Technical outlook and chart setups:
1. The USD/CHF pair rose above the 0.9100 levels as seen here. Please note that the next potential fibonacci resistance is at 0.9120/30 levels and the pair could still test those before pulling back. No doubt, that the pair has picked up the trend but a reasonable dip would be required to enter longs; interest is around 0.9000/20 levels.
2. Support is seen at 0.9030, followed by 0.9000, and lower while resistance is seen at 0.9120/30 respectively.
3. The structure indicates that USD/CHF is a clear buy on dips trade setup for now.
Trading recommendations:
Remain flat for now, wait for a dip around 0.9000 levels to go long.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via Technical analysis of USD/CHF for July 31, 2014 . Thanks for your support on Technical analysis of USD/CHF for July 31, 2014
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