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USD/CHF: technical analysis 28.11.2019

Current trend

USD/CHF is moderately restoring after falling to the 0.99807 support. The instrument has the potential to further grow to 0.99945-0.99994 resistance. If the "bulls" manage to raise the rate above the 0.99994, the next target of buyers will be the mark of 1.00098, which seems a key level for the buyers. There is a chance of a downward rebound, while its breakout would allow the growth to continue to the area of 1.00250-1.00403.

Alternative scenario

The rebound from 0.99945 could lead the price back to 0.99807 support. The downward trend will be restored after the price is set below the level of 0.99760, which is the middle line of Bollinger Bands. In this case, the next targets of sellers will be the level of 0.99640-0.99487.
Technical indicators mostly keep a buy signal, but the downward correction is possible in the short term.
Bollinger Bands are diverging on the background of bullish momentum.
MACD stabilized in the positive zone.
Stochastics lines are pointed downwards.

Support and resistance

Support levels: 0.99792, 0.99640, 0.99487.
Resistance levels: 0.99945, 1.00098, 1.00250.

Trading recommendations

Short positions can be opened below the level of 0.99760 with the target at around 0.99487 and stop-loss at 0.99851.
Long positions can be opened above the level of 0.99994 with the target at around 1.00250 and stop-loss at 0.99908.

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