USD/CHF has made a high of 0.9918 (trend line resistance joining 1.22963 and 1.1730) and any break above that level would extend gain to 1.02877 (61.8% retracement of 1.2296 and 0.70658) in the long run.
The major support is around 0.9630 (23.6% retracement of 0.86980 and 0.99185) and any break below will take the pair to 0.9550/0.9450 level.
Long term trend reversal can happen only below 0.9550.
The minor supports are S1 - 0.9725, S2- 0.9690, S3- 0.9630.
Indicators (Weekly chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Buy USD/CHF around 0.9785, SL 0.9550, Target 1.0280.
The major support is around 0.9630 (23.6% retracement of 0.86980 and 0.99185) and any break below will take the pair to 0.9550/0.9450 level.
Long term trend reversal can happen only below 0.9550.
The minor supports are S1 - 0.9725, S2- 0.9690, S3- 0.9630.
Indicators (Weekly chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Buy USD/CHF around 0.9785, SL 0.9550, Target 1.0280.