FxWirePro

We prefer to go long in USD/CHF

Long
FX:USDCHF   U.S. Dollar / Swiss Franc
1
USD/CHF has broken major resistance 0.9818 and this shows it has formed temporary bottom around 0.9550 further upside can be seen in coming days.

The pair’s minor support is around 0.9740 and any minor reversal can be seen only below that level. On the upside break of 0.9818 would extend gain to 09917/0.9979 (161.8% retracement of 0.9816 to 0.95521).

The break of 0.9745 will take the pair to 0.9695 ( 50% retracement of 0.95520 and 0.98468)/0.9650 in short term.

CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy

Recommendation: Buy USD/CHF around 0.9750, SL 0.9695, Target 0.9970.