During the Asian trading session, USDCHF finds support at the 0.89100 level. At the beginning of the EU session, we see a strong impulse and a jump to the 0.89400 level. We are currently consolidating around that level and need a break above for further continuation to the bullish side. Potential higher targets are 0.89500 and 0.89600 levels.
We need a negative consolidation and pullback to this morning’s support level for a bearish option. A drop below could further push the USDCHF pair to lower support levels. Potential lower targets are 0.89000 and 0.88900 levels.
During the Asian trading session, the pair moved in a bullish trend up to 134.00 levels. After reaching that level, USDCHF encounters resistance and begins to retreat to the 133.50 level. Additional resistance at the 134.00 level is in the EMA50 moving average.
For the bearish option, we need a negative consolidation and a continuation of the decline to the 133.00 level, yesterday’s support. Forming a new lower low at that level would mean a further pullback of USDJPY to lower levels on the chart.
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