FBS - Analytics

    FBS

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    USD/CHF: buy target - 0.9800

    • USD/CHF reversed from support zone
    • Next buy target - 0.9800

    USD/CHF recently reversed up from the support zone lying between the support level 0.9670 (which previously reversed the earlier minor impulse wave 1 in February), the lower daily Bollinger Band and the 50% Fibonacci correction of the previous sharp primary impulse wave ① from the middle of 2015. The upward reversal from this support zone stopped the active minor impulse wave 3 from the start of this month.

    Given the oversold reading on the daily Stochastic indicator - USD/CHF can be expected to rise from the current levels toward the next buy target at the resistance level 0.9800. Buy stop-loss can be placed below the aforementioned support level 0.9670.


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