USD/CHF: trade recommendation from FBS
Tatiana Norkina, FBS analyst
The pair is trying to rise after another test of support at 0.9040. During yesterday’s session the bulls were able to consolidate above the 0.9060 resistance and break through the lower boundary of Ichimoku Cloud at H1.
Ichimoku indicator. This consolidation had a positive impact on market sentiment during the opening of trading today. The pair has managed to overcome a powerful level formed by the boundary of the Cloud. If the prices fix above it, this will open the way for the bulls to the 0.9100 area.
Note that remained the Ichimoku Cloud on H4 remained positive, and price broke up resistance of horizontal Kijun-sen. This increases the likelihood of the resumption of primary uptrend.
Technical levels: support - 0.9060, 0.9070; resistance - 0.9095 / 0.9100.
1. Buy - 0.9070; SL - 0.9050; TP1 - 0.9100; TP2 - 0.9125.