Technical analysis of USD/CHF for December 02, 2016
December 2, 2016 4:33 am
USD/CHF is expected to trade with bearish bias as Key resistance at 1.0140. The pair is trading below a horizontal resistance at 1.0140, which should limit the upside potential. The relative strength index is bearish below its neutrality level at 50. Additionally, the declining 20-period and 50-period moving averages suggests that the pair still has potential for a further downside. The selloff in U.S. government bonds showed no signs of ending. The benchmark 10-year U.S. Treasury yield jumped to a 16-month intraday high of 2.491% before settling at 2.442%, up from 2.365% Wednesday.
As long as 1.0140 is not broken up, the pair is likely to return to its next support at 1.0075. A break below this level would call for a further downside toward 1.0050.
Resistance levels: 1.0175, 1.0195, 1.0220
Support levels: 1.0075, 1.0050, 1.0005
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
USD/CHF is expected to trade with bearish bias as Key resistance at 1.0140. The pair is trading below a horizontal resistance at 1.0140, which should limit the upside potential. The relative strength index is bearish below its neutrality level at 50. Additionally, the declining 20-period and 50-period moving averages suggests that the pair still has potential for a further downside. The selloff in U.S. government bonds showed no signs of ending. The benchmark 10-year U.S. Treasury yield jumped to a 16-month intraday high of 2.491% before settling at 2.442%, up from 2.365% Wednesday.
As long as 1.0140 is not broken up, the pair is likely to return to its next support at 1.0075. A break below this level would call for a further downside toward 1.0050.
Resistance levels: 1.0175, 1.0195, 1.0220
Support levels: 1.0075, 1.0050, 1.0005
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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