USD/CHF reversed from support zone

USD/CHF reversed from support zone

  • USD/CHF reversed from support zone
  • Next buy targets - 1.0000 and 1.0050

USD/CHF recently reversed up from the support zone lying at the intersection of support level 0.9840, 38.2% Fibonacci correction of the previous sharp upward impulse (5) from the start of April and the upper trendline of the recently broken down channel from May (acting as support after it was broken). USD/CHF is expected to rise further toward the next buy target at the next resistance levels 1.0000 and 1.0050.

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EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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