The USD/CHF pair has soared as projected re-attacking the key resistance levels hinted earlier at 0.9310 as seen on the provided daily chart. Despite drawing a fast and sharp upside rally from 61.8% Fibonacci retracement of the entire upside wave from 0.8565 to the significant high at 0.9590, but Stochastic and RVI 14- momentum indicators' representatives- continue giving off positive signs. Thereby, we believe that 23.6% Fibonacci at 0.9350 will fall sooner, opening the door for additional gains towards 0.9590 areas once more.
The trading range for today is among key support at 0.9105 and key resistance at 0.9590.
The general trend over short term basis is to the upsidetargeting 0.9950 as far as areas of 0.8850 remain intact.
|Recommendation||Based on the charts and explanations above our opinion is, buying the pair around 0.9275 targeting 0.9500 and stop loss below 0.9105 might be appropriate.|