Looking at the USD/CHF chart, we can see it has been trading in the 0.96 range on Jun. 2 session, encountering resistance around the 0.965 range and unable to climb above it retracted to the 0.9575 on Jun. 3 forming support just below that, around the 0.955 range.
On Jun. 4, it formed a leg up, rising in the 0.9625 range, and on Jun. 7, it broke the resistance of 0.965 level and rallied will into the 0.97 level, reaching as high as 0.9775. Early on today’s session, it retracted to the 0.9725 level and was last found trading in the 0.973 range.
Today we can expect a move close to the 0.9775 resistance level and possibly beyond, near the 0.98 range. However, if it doesn’t manage to hold on to the current level, a move below the 0.97 range can be expected.
