Intraday analysis of USD/CHF and USD/CAD for July 02, 2014
July 2, 2014 6:35 am
USD/CHF
The pair took support at 0.8860 levels and favor a pullback. In Ais’a session the pair is trading at 0.8878. The pair has strong resistance at 0.8908 levels (50-day Sma). The bulls are back on track above it. On the down side, if the pair breaks the 0.8857 levels, we can see another correction to 0.8830 and 0.8775 levels. The momentum oscillators in different time frames (H4 and daily) favor a pullback.
For an intraday basis, the pair has support at 0.8875 levels. Until it holds, the pair can move up to 0.8895, 0.8905, 0.8921 and 0.8940 levels. A day close above 0.8908, we can see some short covering.
Weekly key resistance- 0.8908
Weekly key support- 0.8857
USD/CAD
The pair has been in a downtrend from 1.0960 levels. The pair made a lot at 1.0629 and the nearest strong support is at 1.06 and 1.0575 levels. The pair is trading at 1.0641 in Asia’s session. We can expect a pullback only above 1.0645 for 1.067 and 1.069 levels. Until the pair trades above 1.0645, the pair will face selling pressure. The hourly oscillators are indicating oversold levels. Another round of selling will take place below 1.0625 for 1.06 and 1.0575.
The material has been provided by InstaForex Company – www.instaforex.com
USD/CHF
The pair took support at
0.8860 levels and favor a pullback. In Ais’a session the pair is trading at
0.8878. The pair has strong resistance at 0.8908 levels (50-day Sma). The bulls are back on track above it. On the down side, if the pair breaks the 0.8857
levels, we can see another correction to 0.8830 and 0.8775 levels. The momentum oscillators in different time
frames (H4 and daily) favor a pullback.
For an intraday basis, the pair
has support at 0.8875 levels. Until it holds, the pair can move up to 0.8895,
0.8905, 0.8921 and 0.8940 levels. A day close above 0.8908, we can see some
short covering.
Weekly key resistance- 0.8908
Weekly key support- 0.8857
USD/CAD
The pair has been in a downtrend
from 1.0960 levels. The pair made a lot at 1.0629 and the nearest strong support is at 1.06 and 1.0575 levels. The pair is trading at 1.0641 in Asia’s session. We
can expect a pullback only above 1.0645 for 1.067 and 1.069 levels. Until the pair trades above 1.0645, the
pair will face selling pressure. The hourly oscillators are indicating oversold
levels. Another round of selling will take place below 1.0625 for 1.06 and
1.0575.
The material has been provided by InstaForex Company – www.instaforex.com
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