| USD/CHFChart Levels: Support 0.9600…0.9550…0.9500. Resistance 0.9650…0.9700 …0.9800 |
| Strategy | Entry | Stop | T1 | T2 |
| Weekly: Long | 0.9550 | 0.9490 | 0.9700 | 0.9800 |
The pair is declining after testing a short-term high. The next couple of weeks we expect the pair trade within the .9550 – .9800 channel with resistance directly above at .9850. If the pair moves through the .9850 level the next target level becomes .9970 on the topside. Although the 100 and 200 day moving averages are tilted downward for a bearish dynamic, the fact that the 100 day is above the 200 day is in favor of a move higher. An improved risk profile in the market place could provide the momentum for a more significant rally.