Technical analysis of USD/CHF for December 09, 2016
December 9, 2016 4:47 am
USD/CHF is expected to further advance. The pair remains on the upside, backed by its ascending 20-period and 50-period moving averages. The relative strength index stands firmly above its neutrality level at 50.
On the economic data front, initial jobless claims decreased to 258k in week ended Dec. 3 (estimated 255k) from 268k in the previous week. Continuing claims diminished to 2.01M in week ended Nov. 26 (forecasted 2.05M) compared with 2.08M in the prior week.
Therefore, as long as the key level at 1.0130 is not broken, look for a further upside toward 1.0185 and even 1.0205 in extension.
Resistance levels: 1.0185, 1.0205, 1.0240
Support levels: 1.0100, 1.0080, 1.0060
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
USD/CHF is expected to further advance. The pair remains on the upside, backed by its ascending 20-period and 50-period moving averages. The relative strength index stands firmly above its neutrality level at 50.
On the economic data front, initial jobless claims decreased to 258k in week ended Dec. 3 (estimated 255k) from 268k in the previous week. Continuing claims diminished to 2.01M in week ended Nov. 26 (forecasted 2.05M) compared with 2.08M in the prior week.
Therefore, as long as the key level at 1.0130 is not broken, look for a further upside toward 1.0185 and even 1.0205 in extension.
Resistance levels: 1.0185, 1.0205, 1.0240
Support levels: 1.0100, 1.0080, 1.0060
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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