Barclays Capital made a technical forecast for USD/CHF explaining their position opened with key targets:
- "We are cautiously bullish against last week’s 0.9475 lows, given the decline in recent volumes. A move above 0.9580 would signal further upside towards targets near 0.9650 and then the 0.9900 highs."
So, they foresee 0.9900 as the real target with this bullish situation for USD/CHF. There are the following key targets for this pair:
- 0.9842 resistance level and 0.9902 resistance level located in the bullish area of the chart;
- 0.9071 support level located in the bearish area of the chart.
If W1 price will break 0.9071
support level on close W1 bar so we may see the reversal of the pice movement from the primary bullish to the primary bearish market condition.
If W1 price will break 0.9842 resistance level so the bullish trend will be continuing.
If not so the price will be ranging within the levels.
I think the most likely scenario for this pair is the bullish trend to be continuing.
