Technical analysis of USD/CHF for January 16, 2019 888011000 110888 Summary:Pivot point: 0.9879.The USD/CHF set continues to move up-wards from the level of 0.9845. The other day, the pair rose from the level of 0.9845 to a top around 0.9879. Today, the first resistance level is seen at 0.9925 followed by 0.9965, while daily support 1 is seen at 0.9845 (61.8% Fibonacci retracement). According to the previous events, the USD/CHF set is still moving between the levels of 0.9845 and 0.9965; so we expect a variety of 120 pips. Moreover, if the pattern has the ability to break out through the pivot point at 0.9879, we need to see the pair climbing up towards the double top(0.9925) to evaluate it. Buy above the level of 0.9879 with the first target at 0.9925 in order to evaluate the everyday resistance 1 and even more to 0.9965. Also, it may be kept in mind that the level of 0.9965 is a great place to take earnings since it will form a major resitance today. On the other hand, in case a turnaround happens and the USD/CHF pair breaks through the assistance level of 0.9845 , a further decline to 0.9765 can take place which would suggest a bearish market.The material has actually been supplied by InstaForex Business- www.instaforex.com

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