All our upside targets which we predicted in yesterday's analysis have been hit. USD/CHF is expected to advance further. The pair is holding on the upside after yesterday's upward acceleration. Both rising 20-period and 50-period moving averages maintain the bullish bias. The relative strength index is bullish and calls for a new upleg. To conclude, above 0.9635, look for a further advance with targets at 0.9715 and 0.9750 in extension.
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 0.9635, take profit at 0.9715.
Resistance levels: 0.9715, 0.9750, and 0.9790
Support levels: 0.9605, 0.9575, and 0.9545.
The material has been provided by InstaForex Company - www.instaforex.com
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