The USDCHF held above strong resistance of 0.9580
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 115 pips | Max. 0.9750
Min. 0.9515 |
The breakout of strong resistance at 0.9515 bolstered further uptrend. Level 0.9515 is now acting as support, whereto we expect a slight pullback.
Low volatility suggests correction down with target at the closest support of 0.9580.
Short-term test of 0.9580 may be followed by a slight consolidation, and then a rebound up and further growth towards 0.9630, 0.9700.
Alternative scenario: the breaking of 0.9580 support will allow the bears to correct the price into 0.9515.
Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!
The USDCHF held above strong resistance of 0.9580
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 115 pips | Max. 0.9750
Min. 0.9515 |
The breakout of strong resistance at 0.9515 bolstered further uptrend. Level 0.9515 is now acting as support, whereto we expect a slight pullback.
Low volatility suggests correction down with target at the closest support of 0.9580.
Short-term test of 0.9580 may be followed by a slight consolidation, and then a rebound up and further growth towards 0.9630, 0.9700.
Alternative scenario: the breaking of 0.9580 support will allow the bears to correct the price into 0.9515.
Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!