Overview:
- The USD/CHF pair has shown signs of following the break of the highest level of 1.0207 and has opened above the daily pivot point today. Therefore, it will be a good sign to buy above the level of 1.0207 with the first target at 1.0244 and resume to 1.0260 with a view to test the double top. However, in case a reversal takes place and the USD/CHF pair breaks through the support level of 1.0190, the market is likely to decline to 0.9434 in order to indicate a correction movement at this level. Meanwhile, the daily chart represents a strong support at 1.0154, moreover the channel emerging of the RSI is still positive on most of time frames, so the RSI calls for a new uptrend at this level. In addition, if the price keeps set above the level of 1.0200; then it would be more a confirmation of an uptrend in a long-term period.
Forecast:
- The trend is still calling for a strong bullish market from the spot of 1.0200 and 1.0165. Hence, buy above this area (1.0200 and 1.0165) with the targets of 1.0244 and 1.0260 in coming hours.
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of USD/CHF for November 26, 2015 . Thanks for your support.
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