FxWirePro: USD/CHF consolidating around 0.9830, bias is bullish
Monday, August 8, 2016 1:34 PM UTC
- The USD/CHF pair rallied on Monday in the early US session as the dollar remained strong against all of its major rivals following Friday's bumper U.S. jobs numbers.
- The pair remains under bulls control unless until it trades above 0.9755 support level, therefore it is good to buy this pair on dips.
- The pair is trading around 0.9830 levels and it is expected advance further towards 0.9880 and 0.9920 levels in the short term.
- To the upside, the strong resistance can be seen at 0.9876, a break above this level would take the pair towards next resistance level at 0.9900.
- To the downside, immediate support can be seen 0.9793, a break below this level will take the pair to next level at 0.9755.
Resistance Levels
R1: 0.9830 (38.2% Retracement level)
R2: 0.9876 (23.6% Retracement level)
R3: 0.9900 (Psychological levels)
Support Levels
S1: 0.9793 (50% Retracement level)
S2: 0.9755 (61.8% Retracement level)
S3: 0.9726 (Aug 5th lows)