Forecast:
• Strong level (Resistance) will be formed at 0.9420 providing a clear signal for sell deals with the target seen at the 0.9310 level. Stop loss is to be placed above 0.9475.
• Strong level (Support) will be formed at 0.9257 providing a clear signal for buy deals with the target seen at the 0.9403 level. Stop loss is to be placed below 0.9200.
Overview:
USD/CHF:
It is necessary to consider that the price is still located between points of 0.9320 and 0.9375, i.e. above the strong resistance level of 0.9420. The pair has already formed a strong resistance at this level of 0.9420 and is presently approaching it to the further testing. Therefore, the Swissie is expected to go downwards following the non-corrective structure and indicating the bearish opportunity below the 0.9420 level. Sell deals are recommended below 0.9420 with the first target seen at the 0.9370 level. Thus, the downtrend is likely to continue the bearish movement towards the 0.9310 level. Moreover, it is crucial that the price has probably formed a strong support at 0.9257. The saturation is likely to take place around 0.9257. Therefore, it is possible that the market will start showing the signs of a bullish behavior. In other words, buy deals are recommended above 0.9260 with the first target seen at the 0.9345 level and further at the 0.9403 level.
