Although the pair is overbought, the pair can continue to rise.

The indicators OsMA and Stochastic on the daily, weekly and monthly charts are in favour of the buyers.
On the 4-hour chart indicators also started to reverse towards the long positions, which creates favourable prospects for buying.
On the weekly chart the pair USD/CHF is moving in the upward channel with the upper limit above the level of 1.0400 and lower limit near the level of 1.0040, which is crossed by a strong support level of ЕМА200 on the 4-hour chart.
Therefore, when in the result of short-term downward correct, the price approaches the level of 1.0040, it is recommended to enter into long positions. Buy positions can be opened from support level of 1.0120 (ЕМА50 on the 4-hour chart) up to 1.0060 and 1.0040. Stop loss can be placed below the level of 1.0000.
Consolidation of the price below the level of 0.9960 will create the risk of the decline to support levels of 0.9865 (ЕМА144) and 0.9800 (ЕМА200 on the daily chart).

Support levels: 1.0120, 1.0100, 1.0060, 1.0040 and 1.0000.
Resistance levels: 1.0200, 1.0230, 1.0260 and 1.0340

Trading tips
Buy as per market. Stop-Loss 1.0160. Take-Profit 1.0220, 1.0260, 1.0300
Sell Stop 1.0130. Stop-Loss 1.0170. Take-Profit 1.0100, 1.0040




The material published on this page is produced by LiteForex and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.



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