USD/CHF may rise 34 - 54 pips
Pivot
0.8595
Our preference
Long positions above 0.8595 with targets at 0.8650 & 0.8670 in extension to 0.8700.
Alternative scenario
Below 0.8595 look for further downside with 0.8575 & 0.8555 as targets.
Comments: Likely to rise to resistance level 0.8700
USDCHF currency pair recently reversed up with the weekly Piercing Line from the key support level 0.8400.
The support level 0.8400 was strengthened by the lower daily Bollinger Band and by the support trendline of the weekly down channel from the start of last year.
Given the strong Swiss franc sales, USDCHF can be expected to rise further to the next resistance level 0.8700 (former support from the end of last year).
The RSI lacks downward momentum.
Supports and resistances
0.8685
0.8670
0.8650
0.8616 Last
0.8595
0.8575
0.8555
Number of asterisks represents the strength of support and resistance levels.
0.8595
Our preference
Long positions above 0.8595 with targets at 0.8650 & 0.8670 in extension to 0.8700.
Alternative scenario
Below 0.8595 look for further downside with 0.8575 & 0.8555 as targets.
Comments: Likely to rise to resistance level 0.8700
USDCHF currency pair recently reversed up with the weekly Piercing Line from the key support level 0.8400.
The support level 0.8400 was strengthened by the lower daily Bollinger Band and by the support trendline of the weekly down channel from the start of last year.
Given the strong Swiss franc sales, USDCHF can be expected to rise further to the next resistance level 0.8700 (former support from the end of last year).
The RSI lacks downward momentum.
Supports and resistances
0.8685
0.8670
0.8650
0.8616 Last
0.8595
0.8575
0.8555
Number of asterisks represents the strength of support and resistance levels.
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