USD/CHF is expected to post some further advance. The pair broke above its 20-period and 50-period moving averages and accelerated on the upside. Meanwhile, the 20-period moving average crossed above the 50-period one and is playing a support role. Besides, the relative strength index stands above its neutrality area at 50 and lacks downward momentum. In conclusion, as long as 0.9820 is not broken, further upside is expected with the next horizontal resistance and overlap set at 0.9910 and 0.9950 in extension.
Resistance levels: 0.9910, 0.9950, 0.9990
Support levels: 0.9765, 0.9735, 0.9710
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
USD/CHF is expected to post some further advance. The pair broke above its 20-period and 50-period moving averages and accelerated on the upside. Meanwhile, the 20-period moving average crossed above the 50-period one and is playing a support role. Besides, the relative strength index stands above its neutrality area at 50 and lacks downward momentum. In conclusion, as long as 0.9820 is not broken, further upside is expected with the next horizontal resistance and overlap set at 0.9910 and 0.9950 in extension.
Resistance levels: 0.9910, 0.9950, 0.9990
Support levels: 0.9765, 0.9735, 0.9710
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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