Technical analysis of USD/CHF for Feburary 15, 2017
February 15, 2017 8:09 am
USD/CHF is expected to trade with bullish bias as it is supported by a rising trend line. The technical picture of the pair is positive above a rising trend line, which emerged on Feb 9. The rising 50-period moving average is playing a support role. The relative strength index is above its neutrality level at 50 and lacks downward momentum.
In a testimony to the Senate Banking Committee, Yellen said, “Waiting too long to remove accommodation would be unwise, (…) At our upcoming meetings, the committee will evaluate whether employment and inflation are continuing to evolve in line with these expectations, in which case a further adjustment of the federal funds rate would likely be appropriate.”
As long as 1.0050 is support, a rebound to it next resistance at 1.0095 seems more likely to occur. A break above this level would call for a further rise to 1.0110.
Resistance levels: 1.0095, 1.0110, and 1.0145
Support levels: 1.0030, 1.0015, and 0.9985
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
USD/CHF is expected to trade with bullish bias as it is supported by a rising trend line. The technical picture of the pair is positive above a rising trend line, which emerged on Feb 9. The rising 50-period moving average is playing a support role. The relative strength index is above its neutrality level at 50 and lacks downward momentum.
In a testimony to the Senate Banking Committee, Yellen said, “Waiting too long to remove accommodation would be unwise, (…) At our upcoming meetings, the committee will evaluate whether employment and inflation are continuing to evolve in line with these expectations, in which case a further adjustment of the federal funds rate would likely be appropriate.”
As long as 1.0050 is support, a rebound to it next resistance at 1.0095 seems more likely to occur. A break above this level would call for a further rise to 1.0110.
Resistance levels: 1.0095, 1.0110, and 1.0145
Support levels: 1.0030, 1.0015, and 0.9985
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: