- Due to the previous events,
the USD/CHF pair is still trading between the levels of 0.9072 and 0.9374. So,
it is recommended to be careful while making deals in this area. Therefore, it
is necessary to wait until the sideways channel is passed through (range). Then
the market is likely to show the signs of a bullish trend. In other words, buy
deals are recommended above 0.9072 level with their first target at 0.9260.
From this point, the pair is likely to begin an ascending movement to the point
of 0.9304 and further to the level of 0.9374 (it will act as a strong
resistance for this week).
- At the same time, sell below the level of 0.9374 with the first target at 0.9155; also, it will call for a downtrend in order to continue its bearish movement towards 0.9072 in order to test the double bottom in the H4 chart.
Intraday Technical Levels:
- Projected high: 0.9374
- Breakout (buy stop): 0.9266
- Current Pivot: 0.9202
- Breakout (sell stop): 0.9143
- Projected low: 0.9072
The material has been provided by InstaForex Company – www.instaforex.com