FX.co ★ Short-term forecast for USD/CHF for July 29, 2014

Short-term view

The pair successfully closed above 50WSma in previous weeks and moved to a three-month high. The pair made a double bottom at 0.8699 levels. But, this week the pair made a double top at 0.9052, as of now, above this, it will fly up to 0.9120 (20MSma) and 0.9160 (200WSma). On the down side, it has strong monthly support at 0.8985 (50WSma) and 0.89 (20WSma) levels.

Monthly

Resistance: 0.9052

Support: 0.8985, 0.89, 0.8857

Fresh buy above 0.9052

Weekly basis (July 29-August 01)

The pair has strong support at 0.9035, 0.90 and 0.8960 levels. Use a dip to buy for a higher target.