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    Technical analysis of USD/CHF for August 3, 2015

    USDCHFH1.png

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    Overview:

    • The USD/CHF pair has already faced the resistance at the level of 0.9716 and the support is seen at the level of 0.9643 in the H1 chart. Hence, we expect a range of 73 pips today. Additionally, it should be noted that if the trend is ascending, the strength of the currency will be defined as following: USD is in an uptrend and CHF is in a downtrend. Therefore, it will be of the insight to buy in this area (0.9643) with the first target at 0.9690 in order to try to break the daily pivot point. Then, the price will be able to continue in downtrend towards 0.9717 (a double bottom will be formed at the level of 0.9718). On the other hand, the stop loss should never exceed your maximum exposure amounts, consequently the stop loss should be placed below the support of 0.9643 at the level of 0.9630.

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