USD/CHF may rise 40 - 55 pips

Pivot

0.8580

Our preference

Long positions above 0.8580 with targets at 0.8625 & 0.8640 in extension.

Alternative scenario

Below 0.8580 look for further downside with 0.8565 & 0.8550 as targets.

Comment

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

Supports and resistances

0.8655

0.8640

0.8625

0.8585 Last

0.8580

0.8565

0.8550

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