FxWirePro: USD/CHF key support at 0.9638, bullish in the short term

>The USD/CHF pair has turned bullish, after the Swiss franc was broadly sold off in late New York session on Friday. The pair opened lower in today's Asian session and has strongly rebounded after failing to break support level located at 0.9638. The pair is set to remain in strong bullish territory unless until it trades above 0.9638 fib 61.8% levels, therefore, it's good to buy this pair above 0.9650 levels.

>The pair is trading around 0.9695 levels and it is expected advance further towards 0.9750 and 0.9780 levels in the short term.

>To the upside, the strong resistance can be seen at 0.9757, a break above this level would take the pair towards next resistance level at 0.9812.

>To the downside immediate support can be seen 0.9638 (61.8% Retracement level), a break below this level will take the pair to next level at 0.9588 (Sep 17th lows).

Recommendation: Go long above 0.9650, targets 0.9750, 0.9780, SL 0.9580

Resistance Levels

R1: 0.9757 (38.2% Retracement level)

R2: 0.9812 (23.6% Retracement level)

R3: 0.9853 (Aug 5th high)

Support Levels

S1: 0.9638 (61.8% Retracement level)

S2: 0.9588 (Sep 17th lows)

S3: 0.9566 (Sep 1st)