USD/CHF: buy target - 1.0200
By: Dmitriy Chernovolov
- USD/CHF reached buy target 1.0100
- Next buy target - 1.0200
USD/CHF continues to rise after the recent breakout of the resistance zone lying between the resistance levels 1.0000 and 1.0100 (which was set as the buy target in our previous forecast for this currency pair). This resistance zone was strengthened by the upper resistance trendline of the wide daily up channel from the start of May (as you can see below). The breakout of this resistance area accelerated the 5th impulse wave (v) of the C-wave of the intermediate ABC correction (B) from May.
USD/CHF is likely to rise further toward the next buy target at the next resistance level 1.0200. Buy stop-loss can be placed below the support level 1.0100.