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Technical analysis of USD/CHF for November 11, 2015


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USD/CHF is expected to trade with a bullish bias. The pair stands firmly above its support at 1.0010, which should limit any downward attempts. Higher highs and lows remains intact, which suggests that the price is still trading in an uptrend. Currently, the pair may face its nearest resistance at 1.0080. Only the upside penetration of this level would trigger a bullish acceleration towards 1.0125.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 1.0080 and the second target at 1.01. In the alternative scenario, short positions are recommended with the first target at 0.9945 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.9915. The pivot point is at 1.0010.

Resistance levels: 1.0080 1.0125 1.0140

Support levels: 0.9980 0.9945 0.9915

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