Technical analysis of USD/CHF for April 06, 2018

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All our targets which we predicted in previous analysis have been hit. USD/CHF is still expected to trade with a bullish outlook. The pair is heading upward, and is now challenging its resistance at 0.9660. A strong support base has formed around 0.9600, and should limit any downward attempts. Additionally, the process of higher highs and lows remains intact, which should confirm a bullish outlook. To conclude, as long as 0.9600 is not broken, likely advance to 0.9660 and 0.9680 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 0.9600, take profit at 0.9660.

Resistance levels: 0.9660, 0.9680, and 0.9710

Support levels: 0.9575, 0.9555, and 0.9500.

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