FX.co ★ Technical analysis of USD/CHF for July 30, 2015

Following our previous forecast, USD/CHF brokeout above the 38.2% Fibonacci level and at the same time rejected the uptrend trendline, support areas around S2 (0.9542) and S1 (0.9608). The trend is strongly bullish and bulls should continue dominating until R2 resistance area (0.9888) is reached.

Consider buying USD/CHF on a minor pullback, preferably near S1 (0.9673) targeting R2 (0.9888). The stop loss can be placed just below yesterday's low of 0.9594.

Support: 0.9542, 0.9608, 0.9673

Resistance: 0.9755, 0.9888