USD/CHF right on major support, prepare for a bounce


The price is now testing major support at 0.9569 (Fibonacci extension, horizontal swing low support) and we expect a bounce above this level to push the price up to at least 0.9699 resistance (Fibonacci retracement, horizontal pullback resistance).

Stochastic (21,5,3) is seeing major support above 3.7% where a corresponding bounce could occur.

Buy above 0.9569. Stop loss at 0.9501. Take profit at 0.9699.


The material has been provided by InstaForex Company –


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