USD / CHF: uncertainty on the highs
Tatiana Norkina, an analyst at FBS
The currency pair has adjusted Friday’s rapid recovery during yeaterday's trade. The trade opened with a small gap-up, as a result of which the highs of three weeks ago period were tested - 0.9730 / 40. By the end of the day the pair was traded at 0.9660 area.
The technical picture for this pair still remains bullish. Thus, Ichimoku cloud has a positive character, gold cross is active and formed by Tenkan-Sen and Kijun-sen lines.
The MACD histogram is located in the positive area. The decrease followed only because of the price correction. RSI is also located on the top of the range indicating the activity of buyers.
Condifering the formation of bullish "belt-hold line" in the candle chart, we can assume that we will see a short-term growth rate for the 97th figure in the nearest future. Though, we should also mind the presence of Chinkou line in overbought zone. Therefore, we do not exclude the possibility of falling to the area 0.9630, if not to 0.9610.
Technical levels: support - 0.9665, 0.9630, 0.9610; resistance - 0.9700, 0.9740.
1. Buy - 0.9630; SL - 0.9610; TP1 - 0.9700; TP2 - 0.9740.
2. Sell - 0.9690; SL - 0.9710; TP1 - 0.9630.