FxWirePro: USD/CHF key support at 0.9684, bullish in the short term

>The USD/CHF declined sharply to test support level at 0.9684 yesterday. However, the pair after failing to break support level at 0.9684 has made a strong rebound towards 0.9740 levels. The pair is set to consolidate around 0.9700 and reach higher levels as pair continues to remains under bulls control, as the pair is trading above strong intraday support area at 0.9665, therefore it is good to go long on this pair above 0.9700 levels.

>The pair is trading around 0.9720 levels and it is expected advance further towards 0.9780 and 0.9840 levels in the short term.

>To the upside, the strong resistance can be seen at 0.9750 (Sep 29th high), a break above this level would take the pair all the way towards 0.9815 levels.

>To the downside immediate support can be seen 0.9722 (38.2% Retracement level), a break below this level will take the pair to next level at 0.9684 (50% Retracement level).

Recommendation: Go long above 0.9700, targets 0.9760, 0.9800, SL 0.9580

Resistance Levels

R1: 0.9750 (Sep 29th high)

R2: 0.9768 (23.6% Retracement level)

R3: 0.9815 (Sep 28th high)

Support Levels

S1: 0.9722 (38.2% Retracement level)

S2: 0.9684 (50% Retracement level)

S3: 0.9665 (Sep 24thlows)