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USD/CHF: Major Levels 1.0007 and 1.0039

European Session
USD/CHF has been trading upwards since the 30th of December 2015, with the bulls leading the price from as low as 0.9857 to as high as 1.0062.

During the course of the day on Monday, the pair went back and forth, falling down to 0.9925 before rising up to 1.0062. Today, the pair is currently moving between the levels of 1.0007 and 1.0036. Taking into consideration that there is significant resistance at 1.0062, the pair might be forced to correct lower. In the event that the price breaks below 0.9985, the pair could decelerate down to 0.9960 and 0.9936 in extension.

On the other hand, in the scenario where the price attempts to test the 1.0062 level once again and succeeds in breaking above it, the pair could go up to 1.0147. 
 



Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.


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