USD/CHF seems to have settled in upwards trend and it seems that it is now time for USD to get stronger against CHF once again. The Intra-day traders will find some good traders on daily basis and will generally look to buy on dip to retracement levels. Currently the traders will look to target entry around 0.9115 level for initial targets around 0.9350 level and that profit target level can be extended to 0.9510 level once USD/CHF manages to break above 0.9350 level. On the lower side, USD/CHF can extend the dip towards 0.8910 level once it manages to break below 0.9115 level and that will provide a good entry for long term traders.
Looking at the moving averages used in daily charts, USD/CHF is very much above all the lines and all time frames are suggesting the upward trend. The short term moving average is around 0.9115 level and medium term moving average is around 0.8910 level which again indicates the importance of these two level in short term and medium term considerations.
RSI is above 71 in the daily charts and is very much on the higher side and will certainly look to push USD/CHF down. That will certainly provide some good entry opportunities for the traders.
Winner’s Edge Trading, as seen on: