USD/CHF, D1

On the D1 chart, the asset adjusted downwards, reached the 61.8% upward fan line in the area of 0.8830, after which it resumed growth. Currently, the price is close to 0.9005 (23.6% retracement), supported by the upper line of Bollinger Bands, at the breakout of which the growth of quotations will continue to the target of 0.9190 (0.0% retracement). The key level for the "bears" is 0.8890 (38.2% retracement), consolidation below which will lead to a resumption of decline to 0.8795 (50.0% retracement), 0.8705 (61.8% retracement).

Technical indicators do not give a clear signal: Bollinger Bands have reversed horizontally after the decline, MACD is preparing to move into a positive zone, and Stochastic is ready to leave the overbought zone.

USD/CHF, W1

On the W1 chart, the price tested the 0.9230 mark (50.0% retracement), but could not consolidate above it and adjusted downwards; it is currently close to the level of 0.9035 (38.2% retracement), supported by the central line of Bollinger Bands, the breakout of which will allow quotes to return to 0.9230 (50.0% retracement). Otherwise, the decline will resume to the level of 0.8795 (23.6% retracement).

Technical indicators confirm the possibility of further growth: Bollinger Bands and Stochastic are reversing up, MACD is stable in the positive zone.

Support and resistance

In the near future, continued growth seems more likely. If the level of 0.9035 is broken out (38.2% retracement, W1), the targets will be 0.9190 (0.0% retracement, D1) and 0.9230 (50.0% retracement, W1). After the breakdown of the 0.8890 mark (38.2% retracement, D1), the decline will be able to resume to the targets 0.8795 (50.0% retracement, D1 and 23.6% retracement, W1), 0.8705 (61.8% retracement, D1).

Resistance levels: 0.9035, 0.9190, 0.9230.

Support levels: 0.8890, 0.8795, 0.8705.

Trading tips

Long positions can be opened above the 0.9035 mark with targets of 0.9190, 0.9230 and stop-loss around 0.8980. Implementation period: 5–7 days.

Short positions can be opened below the level of 0.8890 with targets of 0.8795, 0.8705 and stop-loss around 0.8940.