(0,9485) The USD/CHF confirmed a strong closing above the 200 days line but also above the resistance of the inside day at 0,9475 suggesting further direct upside potential. Possible therefore a move above 0,9515!! The indicators of the daily chart are still well positive but also still showing potential negative reversals and overbought conditions, now even more. The indicators of the s/t charts are also all positive with fresh bearish divergences confirming a positive tone. The move up confirmed a test of the 50% retracement level of the previous drop 0,9972 – 0,9021; we could see a direct extension toward next Fibonacci level at 0,9610! Despite the positive scenery we caution getting too long at the present levels. We prefer waiting for a possible 0,9610 overshooting to go short for a return toward the 200 days line!!
Click here to read the full report: USDCHF 03.07
Future Trend Research