Overview:
- The price of the USD/CHF pair has traded between the levels of 0.9642 and 0.9710, but these levels are coinciding with 38.2% and 61.8% of Fibonacci retracement levels on the H1 chart, and the pair has already formed a strong resistance at the level of 0.9760. Moreover, the price has set below strong resistance at the levels of 0.9760 (78.6% of Fibonacci retracement levels in H1 chart). So now it is approaching it in order to test it. Therefore, buy above the price of 0.9710 and 0.9755. On the other hand, the Swissy's downside momentum is rather convincing and the structure of the fall does not look corrective. In order to indicate a bearish opportunity below 0.9760, it will be a good decision to sell below 0.9760 with the first target of 0.9705. It will call for a downtrend continuing falling towards 0.9675 to try to break the weekly pivot point. Thus, if the trend can break the weekly pivot point, it will lead the market to the price of 0.9650.
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of USD/CHF for September 21, 2015 . Thanks for your support.
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