USD/CHF: trade ideas
By Felipe Erazo
USD/CHF is trying to hold above the 78.6 Fibo level, so this pair may have a bullish momentum in the coming days due to the strong support level of 0.8924. Also, remember that the USD/CHF is still very close to the 500 EMA, so this pair may consolidate back above that level in the coming days.
If the USD/CHF manages to make a breakout on the resistance level of 0.8949, next target would be the level of 0.8959, which coincides with the 200 EMA. However, if the pair manages to consolidate below the level of 0.8924 (78.6 Fibo level), it is expected to fall to the level of 0.8910 (100.0 Fibo level).
Trading recommendations: Hold your long positions until the resistance level of 0.8959. Also, we recommend to wait for a breakout at the support level of 0.8924, for place sell orders in the USD/CHF.
Chart. H1 USD/CHF