The price is likely to continue growing.

On the 4-hour chart, the pair is correcting after a long fall towards its lows since October 2015. The first target of the correction might be the level of 0.9805 (where the 23.6% correction for the short-term trend and the 50.0% correction for the medium-term trend have concentrated). If this level is broken out, the price would continue growing to 0.9888 (38.2% correction) and 0.9955 (50.0% correction). If the price turns down, returns to its October lows and breaks down the level of 0.9670, it would continue falling to 0.9595.

On the daily chart, the pair is between the key levels of 0.9800 (50.0% correction) and 0.9680 (61.8% correction). The breakout of the upper one would allow the price to rise to 0.9915 (38.2% correction) in the medium term. Alternatively, the breakdown of 0.9680 would lead to a fall to 0.9595.

Trading tips

Buy the pair from the level of 0.9805 with targets at 0.9888, 0.9955 and stop-loss at 0.9780.

Alternative scenario

Sell the pair if the price turns down and falls below the level of 0.9730 with targets at 0.9680, 0.9595 and stop-loss at 0.9790.

USD/CHF: Fibonacci analysis

USD/CHF: Fibonacci analysis

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