FxWirePro

We prefer to go long in USD/CHF

Long
FX:USDCHF   U.S. Dollar / Swiss Franc
1
USD/CHF has made a high of 0.98832 and is slightly retreating from this level. Overall trend is bullish as long as minor support 0.9750 holds.

On the upside break of 0.98832 will take the pair to 0.9915/0.9972 (161.8% retracement of 0.9816 to 0.95521).

The pair’s minor support is around 0.9805 (23.6% retracement of 0.9552 and 0.98832) and any break below will target 0.9775/0.9750.

Indicator (1 Hour chart)
CCI (50) – Buy
CCI (14) – Sell
Ichimoku- Buy

Recommendation: Buy USD/CHF around 0.9800, SL 0.9750, Target 0.9972.