USD/CHF: updating highs
Tatiana Norkina, an analyst at FBS
We’ve seen new highs of the current year during yesterday's trade. The pair broke through the upper limit of the Ichimoku cloud on a weekly timeframe which is a sign of the buyers’ force. It is obvious that the bulls are aimed to the levels of 2013, which are above the 98th figure.
Ichimoku Indicator is positive and can support the northward movement. Thus, Tenkan and Kijun lines formed a new golden cross after the lasting period of growth and the Ichimoku cloud has seriously expanded upwards.
Oscillators are also growing but RSI has entered the overbought zone, confirming the location in such a zone and Chinkou Span.
You should wait for a recoil movement to the lines Tenkan or Kijun and be on the side of the bulls in this situation.
Technical levels: support - 0.9700, 0.9720; resistance - 0.9780, 0.9840.
1. Buy - 0.9720; SL - 0.9690; TP1 - 0.9780; TP2 - 0.9840.