The bullish pressures on the USDCHF got more tensed since the 18th of November 2016 where the price climbed from 1.0071 to 1.0191.
Today’s major pivot point area, the 1.0191 zone, is a critical level for the buyers in their attempts of boosting the price once again to the upside.
The latest stabilization of the price close to the 1.0191 level is a good indication that the bulls could likely exert momentum to lead the pair upwards.
Stochastic oscillators’ formation signals that a probable bullish retracement at the 65 level has greater probabilities to occur.
In the event where the pair appreciates, the buyers could set their take profit target at 1.0265.
Alternatively, a bearish break-out at the 1.0145 zone could signal that the sellers may exert far greater pressures to force the price to lower areas such as the 1.0071 level.
- There are no any releases on the U.S. dollar
- Switzerland’s Industrial Production (YoY) (Q3) and the Industrial Production (QoQ) (Q3) releases could have a medium impact on the Swiss franc
· Probable trend (Bullish): 1.0191
· Bullish take profit target: 1.0265
· Stop loss target: 1.0145
· Alternative trend (Bearish): 1.0145
· Bearish take profit target: 1.0071