Currency pair USD / CHF retreated somewhat from the lows reached. Thus, the Swiss franc recovered some lost value against the American dollar. Analysts define intraday reversals USD / CHF at the points (S1) 0,9538; (P) 0,9611; (R1) 0,9656. Fluctuations in the moment, are neutral.
"The pair shows some consolidation below 0.9688 high. If 0.9516 minor support will remain intact in the short term we should expect further upside USD / CHF", - noted analysts of the Forex Broker Company Nas broker.
Subject to successful completion of the resistance level 0.9688 the pair USD / CHF will change the range of fluctuation of the projection of 0.8702 to 0.9036 at 0.8855 to the projection of 0.9729. Here a zone key resistance 0.9838 / 9971. But analysts caution about the outlook for further progress pair USD / CHF up in connection with the obvious overbought tool. Most likely, there will be short bursts followed by rebounds to previous levels.
On the other hand, a break below support at 0.9516 quotations indicate the short term the current rise in prices. Pair USD/CHF, in this case, go to the next minimum of 0.9395 and will test it as a resistance level.
Technical analysis and recommendations
In the medium term movement of the pair USD / CHF from 0.9971 is treated as the level of correction, which is completed in three waves at the level of 0.8698. Subsequent rise from here a couple of forwards back to the level of 0.9971, which is considered the top of the first upward wave.
In the long term upward trend is seen from a minimum of 0.7065, where the first important resistance level is also a mark of 0.9971. At this time, there is determined and the key support level at 0.8698. Subject to the sustainability of this level and overcome the first maximum of the pair USD / CHF going to test the new resistance 1.0494. According to experts, the bullish outlook in USD / CHF pair to remain until at least 0.9300 remains intact. "Recall that in the environment, there are data on the labor market in Switzerland. However, this statistic is unlikely to affect the course of the so-USD / CHF, as a follow-up report FOMC from the United States," - said the company's experts of Nas broker (rated among the TOP Forex Brokers Masterforex-V World Academy http://www.masterforex-v.com/).
