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01.09.201512:31 Forex Analysis & Reviews: Technical analysis of USD/CHF for September 1, 2015

Long-term review

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Overview:

The USD/CHF pair will set strong resistance at the level of 0.9734 and support at 0.9592 today. Besides, the daily pivot point has been already set at the price of 0.9603. So, the last bullish wave began from the daily pivot point at the level of 0.9603 on the first day of September 2015. Additionally, the price is still moving above the key level (0.9570) since last week. Therefore, the USD/CHF pair will get an upside momentum. It is rather convincing and the structure of ascension does not look corrective. Bullish opportunity is above the 0.9590/0.9603 level. Consequently, it will be a good sign to buy above 0.9590/0.9603 with the first target of 0.9682 and continuing bullish towards 0.9734 (this level is coinciding with the weekly resistance one). Moreover, it should be noted that the RSI calls for an uptrend. On the other hand, stolp loss should be placed below the last bearish wave at 0.9561.

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