Technical analysis of USD/CHF for December 31, 2013
December 31, 2013 3:15 pm
Overview:
USD/CHF is expected to trade in higher range. The pair remains on the upside as the RSI is well directed.
Trading recommendation:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As far as the price is above its pivot point, a long position is recommended with the first target at 0.893 and the second target at 0.8945 in mind. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.8855.The breach of this target will move the pair further downwards and one may expect the second target at 0.8825. The pivot point stands at 0.888.
Resistance levels: 0.893 0.8945 0.8965
Support levels: 0.8855 0.8825 0.88
The material has been provided by InstaForex Company – www.instaforex.com
Overview:
USD/CHF is expected to trade in higher range. The pair remains on the upside as the RSI is well directed.
Trading recommendation:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As far as the price is above its pivot point, a long position is recommended with the first target at 0.893 and the second target at 0.8945 in mind. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.8855.The breach of this target will move the pair further downwards and one may expect the second target at 0.8825. The pivot point stands at 0.888.
Resistance levels:
0.893
0.8945
0.8965
Support levels:
0.8855
0.8825
0.88
The material has been provided by InstaForex Company – www.instaforex.com
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