This bias on this currency trading instrument is bullish – but it is currently not a strong bias. Since testing the support level at 0.9200 (February 16), the price has managed to gain about 360 pips. Last week, it managed to stay briefly above the resistance level at 0.9550, after which it closed below it again.
Things will go upward when volatility arises. A rise in the market is expected this week, which would also be fueled by the weakness in EURUSD. The resistance levels at 0.9550, 0.9600, and 0.9650 could be reached before the end of the week.
The material has been provided by InstaForex Company – www.instaforex.com
USD/CHF
This bias on this currency trading instrument is bullish – but it is currently not a strong bias. Since testing the support level at 0.9200 (February 16), the price has managed to gain about 360 pips. Last week, it managed to stay briefly above the resistance level at 0.9550, after which it closed below it again.
Things will go upward when volatility arises. A rise in the market is expected this week, which would also be fueled by the weakness in EURUSD. The resistance levels at 0.9550, 0.9600, and 0.9650 could be reached before the end of the week.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: