Technical analysis of USD/CHF for September 28, 2016
September 28, 2016 6:32 am
USD/CHF is expected to trade in upper range as the bias remains bullish. The pair is trading above its rising 50-period moving average which is playing a support role, and maintains a bullish view. At the same time, a support base at 0.9675 has formed, and the downside room should be limited by this level. Additionally, the relative strength index stands firmly above its neutrality area at 50. The New York-based Conference Board’s consumer confidence index rose to a 9-year high of 104.1 in September (vs. 99 expected) from 101.8 in August. Hence, as long as 0.9675 is not broken, expect a new rise to 0.9750, if breakout, the next up target would be 0.9775 as possible.
Resistance levels: 0.9750, 0.9775, 0.9815
Support levels: 0.9655, 0.9635, 0.9610
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
USD/CHF is expected to trade in upper range as the bias remains bullish. The pair is trading above its rising 50-period moving average which is playing a support role, and maintains a bullish view. At the same time, a support base at 0.9675 has formed, and the downside room should be limited by this level. Additionally, the relative strength index stands firmly above its neutrality area at 50. The New York-based Conference Board’s consumer confidence index rose to a 9-year high of 104.1 in September (vs. 99 expected) from 101.8 in August. Hence, as long as 0.9675 is not broken, expect a new rise to 0.9750, if breakout, the next up target would be 0.9775 as possible.
Resistance levels: 0.9750, 0.9775, 0.9815
Support levels: 0.9655, 0.9635, 0.9610
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: