Technical analysis of USD/CHF for August 31, 2016
August 31, 2016 8:52 amVideo
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Overview:
In the H4 time frame, the RSI and the moving average (100) are still pointing to the upside. Therefore, the market indicates a bullish opportunity at the level of 0.9792. Buy above the minor support of 0.9792 with a target at 0.9861 (this price is coinciding with the ratio of 78.6% Fibonacci). Another resistance will be seen at the level of 0.9901.
On the other hand, if the pair closes below the minor support (0.9792), the price will fall into the bearish market in order to go further towards the strong support at 0.9744. Hence, we expect a daily range between the level of 0.9744 and 0.9901.
Comment:
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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