USD/CHF is expected to trade with a bullish outlook. The intraday outlook is mixed to bullish on the prices now. A support base at 0.9935 has formed and has allowed for a temporary stabilization. In addition, the relative strength index lacks downward momentum. In these perspectives, as long as 0.9880 is not clearly broken, a new rise is more likely to occur to 0.9960 and 0.9980 in extension after a limited consolidation.
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 0.9880, take profit at 0.9960.
Resistance levels: 0.9960, 0.9960, and 1.0005
Support levels: 0.9845, 0.9815, and 0.9765
The material has been provided by InstaForex Company – www.instaforex.com
USD/CHF is expected to trade with a bullish outlook. The intraday outlook is mixed to bullish on the prices now. A support base at 0.9935 has formed and has allowed for a temporary stabilization. In addition, the relative strength index lacks downward momentum. In these perspectives, as long as 0.9880 is not clearly broken, a new rise is more likely to occur to 0.9960 and 0.9980 in extension after a limited consolidation.
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 0.9880, take profit at 0.9960.
Resistance levels: 0.9960, 0.9960, and 1.0005
Support levels: 0.9845, 0.9815, and 0.9765
The material has been provided by InstaForex Company – www.instaforex.com
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