USD/CHF: inside the cloud
Tatiana Norkina, FBS analyst
On Friday currency pair failed to get out of the 4-hour Ichimoku cloud - another failed testing of cloud top disappointed the bulls, who rushed to get rid of the asset. This immediately led to a decrease in the rate of the lower boundary - 0.9550. But during yesterday's trading bulls managed to return prices to the top of the clouds, breaking the path of resistance to horizontal lines Tenkan and Kijun. Now there are two possible scenarios: 1) fixing prices above 0.9620 will give the opportunity to continue the basic upward trend; 2)breaking through 0.9620 will force market to correct itself in the area of 0.9520.
Technical levels: support - 0.9620; resistance - 0.9660/70, 0.9720.
1. Buy - 0.9630; SL - 0.9610; TP1 - 0.9720; TP2 - 0.9750.
2. Sell - 0.9610; SL - 0.9630; TP1 - 0.9560; TP2 - 0.9520.