Technical analysis of USD/CHF for October 18, 2018 888011000 110888 Summary: The Swissy is still calling for strong bullish outlook today. The USD/CHF pair continues to trade upwards from the level of 0.9875. The set increased from the level of 0.9875 to a top around 0.9865. Today, the first resistance level is seen at 0.9865 followed by 0.9922, while day-to-day assistance 1 is seen at 0.9743(61.8 %Fibonacci retracement). According to the previous events, the USD/CHF pair is still moving in between the levels of 0.9875 and 0.9999; so we anticipate a range of 124 pips. If the trend is able to break out through the very first resistance level at 0.9865, we should see the set climbing towards the second resistance (0.9922)to check it. Therefore, buy above the level of 0.9865 with the first target at 0.9922 in order to test the day-to-day resistance 2 and even more to 0.9963. It might be kept in mind that the level of 0.9963 is an excellent place to take profit since it will form a new double top. On the other hand, in case a turnaround takes place and the USD/CHF set breaks through the assistance level of 0.9875 , a more decline to 0.9740 can take place which would show a bearish market.The material has been provided by InstaForex Business -www.instaforex.com

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