- The USD/CHF has slipped back towards 0.9525 levels, after failing to break résistance level at 0.9566. The pair has been trading in a narrow range lately, and strong rebound is expected to take place sooner from around 0.9500 levels as this level has been strong recovery zone for the bulls.
- The pair earlier tested resistance level at 0.9566, however after failing to break, it is declined back trade around 0.9536 levels in the US session.
- To the upside, the immediate resistance can be seen at 0.9548, a break above this level would take the pair towards next resistance level at 0.9566.
- To the downside immediate support can be seen 0.9530, a break below this level will take the pair towards next level at 0.9522 levels.
Resistance Levels
R1: 0.9548 (50% Retracement level)
R2: 0.9566 (61.8% Retracement level)
R3: 0.9582 (Daily high)
Support Levels
S1: 0.9530 (38.2% Retracement level)
S2: 0.9522 (April 7th lows)
S3: 0.9500 (Psychological level)
The material has been provided by InstaForex Company – www.instaforex.com