USD/CHF still has significant upside potential - Natixis

According to analysts at Natixis, the development of an ascending channel in the daily chart and the formation of an upward bubble in the weekly chart reveal the pair still has significant upside potential.

Key Quotes

“Under these conditions, pullbacks towards the support at 0.9872 (9-day moving average), possibly the one around 0.98-0.9815 (daily Bollinger moving average) should enable the pair to gather its breath before resuming its ascent forcefully.”

“Keep an eye on the psychologically all-important parity level, for if it were passed, this would open the way towards 1.01-1.0120 (Fibonacci projections) before the resistance levels around 1.0172-1.0193 (Fibonacci projections) and the one at 1.0240 (weekly parabolic).”

“Supports are located at 0.9872, around 0.98-0.9815, at 0.9711 and at 0.9652.”