Will the USDCHF pair rise above the 0.9930 level?
The U.S. dollar and the Swiss franc are lately oscillating within an upside formation between the range of 0.9554 and 0.9930 respectively.
The bulls are now exerting pressures in their attempts of taking control over the price, and holding the pair close to the 0.9930 level.
In the scenario where the USDCHF breaks above the 0.9930 area, the price could escalate as high as 1.0167, Fibonacci’s 261.8%.
The Stochastic oscillator indicates that the pair has greater chances of appreciating to upper levels at the 70 zone.
Alternatively, should the sellers take the lead and force the price below the 0.9784 area, the pair could decline to as low as 0.9554.
Today’s Major Announcements
- There are no any major releases that could have an impact either on the U.S. dollar or the Swiss franc
· Probable trend (Bullish): 0.9930
· Bullish take profit target: 1.0167
· Stop loss target: 0.9784
· Alternative trend (Bearish): 0.9784
· Bearish take profit target: 0.9554
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