Technical analysis of USD/CHF for March 09, 2018


USD/CHF is expected to trade with bullish outlook. The pair recorded a series of higher tops and higher bottoms, which confirmed a bullish outlook. The upward momentum is further reinforced by both 20-period and 50-period moving averages. The relative strength index shows upward momentum.

Hence, above 0.9465, look for an advance with targets at 0.9535 and 0.9565 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 0.9465, take profit at 0.9535.

Resistance levels: 0.9535, 0.9565, and 0.9600

Support levels: 0.9425, 0.9400, and 0.9350.

The material has been provided by InstaForex Company -