Overview:
- The trend of USD/CHF pair movement was controversial as it took place in the uptrend channel. Due to the previous events, the price is still between the levels of 0.9978 and 1.0073, so it is recommended to be careful while making deals at these levels because the prices of 0.9978 and 1.0073 are representing the resistance and support respectively in coming hours. Therefore, it is necessary to wait till the uptrend channel is passed through. Then the market will probably show the signs of a bullish market. In other words, buy deals are recommended above the price of 0.9978 with the first target at the level of 1.0073. From this point, the pair is likely to begin an ascending movement to the price of 1.0073 with a view to test the weekly resistance at the price of 1.0092. On the other hand, if the price will be able to break the support at 0.9973, then sell deals are recommended below 0.9973 with the first target seen at the 0.9938 level. After that the pair will go further at 0.9910 level. Additionally, the double bottom is set at 0.9881.
Intraday Technical Levels:
Date:20/01/2016
Pair: USD/CHF
- R3: 1.0151
- R2: 1.0116
- R1: 1.0073
- PP: 1.0038
- S1: 0.9995
- S2: 0.9960
- S3: 0.9917
