Technical analysis of USD/CHF for March 29, 2018

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USD/CHF is expected to trade in a higher range. The pair remains on the upside, backed by its rising 20-period moving average. The process of higher highs and lows remains intact, which should confirm a positive outlook. Besides, the relative strength index is bullish above its neutrality area at 50. In these perspectives, as long as 0.9530 holds on the downside, look for a new rise to 0.9635 and 0.9665 in extension.

Chart Explanation: The black line shows the pivot point. The present price above the pivot point indicates a bullish position, and the price below the pivot point indicates a short position. The red lines show the support levels, and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Strategy: BUY, stop loss at 0.9530, take profit at 0.9635.

Resistance levels: 0.9635, 0.9665, and 0.9710 Support levels: 0.9505, 0.9475, and 0.9420.

The material has been provided by InstaForex Company - www.instaforex.com