Overview:
- In the long term, the price of USD/CHF pair is still moving between the level of 0.9350 and 0.9455 but it should noticed that the price has set above strong support at the level of 0.9350 (0.9350: 50% of Fibonacci retracement levels in H4 chart). Moreover, it is worthy of note that these levels are coinciding between 50% and 78.6% of Fibonacci retracement levels in H1 chart and the pair has already formed a strong support at the area of 0.9350 - 0.9365. So now it is approaching to it in order to test it. Therefore, the USD/CHF pair upside momentum is rather convincing and the structure of increase does not look corrective. In order to indicate a bullish opportunity above 0.9350 - 0.9365, it will a good sign to buy above 0.9350 - 0.9365 with a first target of 0.9430. It will call for uptrend continuing rising towards 0.9500 in order to test a resistance on October 17, 2014. Consequently, if the trend will be able to break the resistance (0.9500) then the market will lead to the price of 0.9535. Alos, it should be noted that the level of 0.9535 is representing the 78.6% of Fibonacci retracement levels.
