Technical analysis of USD/CHF for July 20, 2015 Market Analysis Review

Review:

• The first resistance of USD/CHF pair is projected at the level of 0.9666 today.
• The second resistance has already set at 0.9720. On the other hand, the supports is found at the levels of 0.9493 and 0.9542.
• The area of 0.9493 / 0.9542 is a useful spot to buy in the long term this week with targets at 0.9666 and 0.9720.
• We expect a range of 298 pips this week.
• 99 pips would make a profit of 298 pips.
• The value of 100% Fibonacci retracement levels is: 0.9542 (the double top).
• Volatility: 298.57. As a rule, the market is highly volatile if the last day had a huge volatility.
• The USD/CHF pair pair will probably go up because the upward trend is still strong for that we expect that the trend for bullish market.

Weekly technical levels:

Date: 20/07/2015

Pair: USD/CHF

• Resistance 2: 0.9720
• Resistance 1: 0.9666
• Pivot point: 0.9602
• Support 1: 0.9542
• Support 2: 0.9493
• It should be noted that if there is no significant news to influence, the price will be moving from the pivot point to resistance 1 or support 1. Otherwise, the price may go straight through resistance 1 or support 1 and reaches resistance 2 or support 2 and even resistance 3 or support 3.

The material has been provided by InstaForex Company - www.instaforex.com

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