FBS: trade recomendation for USD/CHF
Tatyana Norkina, FBS analyst
The USD growth has also impacted the USD/CHF pair. On Tuesday the exchange rate rose to 0.9140, moving above the 0.9120 resistance.
Ichimoku. The bullish trend is clearly gaining strength: the H4 Ichimoku has formed a golden cross. The indicator lines are headed upwards, what confirms the bullish market sentiment. The hourly timeframe also looks bullish: active golden cross and growing Ichimoku.
At the same time, we see a resistance at 0.9145/0.9150. Before extending growth we expect the pair to retrace to 0.9120, so we recommend buying USD/CHF on dips.
Technical levels: support – 0.9100, 0.9120; resistance – 0.9145, 0.9170.
1. Buy — 0.9120; SL — 0.9100; TP1 — 0.9145; TP2 — 0.9170.