USD/CHF may rise 23 - 38 pips

Pivot

0.8975

Our preference

Long positions above 0.8975 with targets at 0.9005 & 0.9020 in extension.

Alternative scenario

Below 0.8975 look for further downside with 0.8960 & 0.8945 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances

0.9035

0.9020

0.9005

0.8982 Last

0.8975

0.8960

0.8945

Number of asterisks represents the strength of support and resistance levels.