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USD/CHF reversed from support zone

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  • USD/CHF reversed from support zone
  • Next buy target - 0.9700

USD/CHF recently reversed up sharply from the support zone lying between the support level 0.9450 (which reversed the previous sharp downtrend in 2016 and which was set as the sell target in our earlier forecast for this currency pair) and the lower weekly Bollinger Band. Given the oversold reading on the weekly Stochastic indicator - USD/CHF can be expected to rise further to the next buy target at the next resistance level 0.9700. If the pair closes this week near the current levels it will form the weekly Bullish Engulfing.

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