USD / CHF Technical Analysis June 30

The upside pressures on the USDCHF got more tensed since the 24th of June 2016 where the price climbed from 0.9647 to 0.9805.

Today’s major pivot point area, the 0.9805 zone, is a critical level for the buyers in their attempts of boosting the price once again to the upside.

Probable Scenario

The latest stabilization of the price above the 0.9805 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 50 level has greater probabilities to occur.

In the event where the pair appreciates, the buyers could set their take profit target at 0.9898.

Alternative Scenario

Alternatively, a bearish break-out at the 0.9743 zone could signal that the sellers may exert far greater pressures to force the price to lower areas such as the 0.9647 level as their first target.

Today’s Major Announcements

• The Initial Jobless Claims (Jun 24) and the Chicago Purchasing Managers’ Index (Jun) announcements are expected to have a medium impact on the U.S. dollar

• The KOF Leading Indicator (Jun) release is expected to have a medium influence on the Swiss franc

Synopsis

• Probable trend (Bullish): 0.9805

• Bullish take profit target: 0.9898

• Stop loss target: 0.9743

• Alternative trend (Bearish): 0.9743

• Bearish take profit target: 0.9647