- The USD/CHF pair rallied initially to test resistance level at 0.9903 in the early European session. However, after failing to break resistance level at 0.9903, the pair has slipped back to test 0.9877 support level.
- The pair remains under bulls control unless until it trades above 0.9800 support level, therefore it is good to buy this pair around 0.9850 levels.
- To the upside, the strong resistance can be seen at 0.9973, a break above this level would take the pair all the way towards 1.0030 levels.
- To the downside immediate support can be seen 0.9877, a break below this level will take the pair to next level at 0.9852.Recommendation: Go long above 0.9850, targets 0.9920, 0.9980, SL 0.9800Resistance LevelsR1: 0.9903 (50% Retracement level)R2: 0.9935 (38.2% Retracement level)R3: 0.9973 (23.6% Retracement level)Support LevelsS1: 0.9877 (61.8% Retracement level)S2: 0.9852 (Dec 24th lows)S3: 0.9800 (Psychological levels)
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