USD/CHF is expected to prevail its downside movement. The pair broke below the 20-period and 50-period moving averages, which play resistance roles. In addition, the 20-period moving average is turning down. The relative strength index is capped by a bearish trend line since April 26.
According to Trump’s tax plan, the income tax rate paid by public corporations would be reduced to 15% from 35%, and that paid by small partnerships and sole proprietorship would be lowered to 15% from 39.6%. To simplify tax returns of individual U.S. taxpayers, the number of tax brackets would be cut to three from seven.
To conclude, as long as 0.9960 holds on the upside, look for a further decline to 0.9910 and even to 0.9890 in extension.
Resistance levels: 0.9985, 1.000, and 1.0025
Support levels: 0.9910, 0.9890, and 0.9850
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
USD/CHF is expected to prevail its downside movement. The pair broke below the 20-period and 50-period moving averages, which play resistance roles. In addition, the 20-period moving average is turning down. The relative strength index is capped by a bearish trend line since April 26.
According to Trump’s tax plan, the income tax rate paid by public corporations would be reduced to 15% from 35%, and that paid by small partnerships and sole proprietorship would be lowered to 15% from 39.6%. To simplify tax returns of individual U.S. taxpayers, the number of tax brackets would be cut to three from seven.
To conclude, as long as 0.9960 holds on the upside, look for a further decline to 0.9910 and even to 0.9890 in extension.
Resistance levels: 0.9985, 1.000, and 1.0025
Support levels: 0.9910, 0.9890, and 0.9850
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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