The USD/CHF pair has been trading downwards since the 6th of January 2016, with the sellers leading the price from as high as 1.0123 to as low as 0.9880.
During the course of the day, the pair rise from 0.9880 up to 0.9985, testing the 1.00 handle. In the event that the bulls keep exerting strong pressures and the price breaks above 1.0002, profit targets could be set at 1.0030 and 1.0066 in extension.
On the other hand, in the scenario where the bears resume their previous activity and the price breaks below 0.9916, the pair could go down to 0.9888 and 0.9852 respectively.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.