Overview: USD/CHF is trading with bullish bias. The rate is undermined by negative dollar sentiment; flows to safe-haven Swiss franc amid increased risk aversion. Daily chart is negative-biased as MACD is bearish, stochastics is staying suppressed at oversold, 5- and 15-day moving averages are falling.
Trading recommendations: The pair is trading above its pivot point. It is likely to trade in higher range as far as it remains above its pivot point. As far as the price is above its pivot point, trading in higher range is most favorable and buy position is recommended above its pivot with the first target at 0.926 and the second target at 0.93. You should keep in view short position below the pivot keep of the first target at 0.917, breach of this target will move the pair downward further and expect the second target at 0.9125. The pivot point stands at 0.92.
Resistance levels:
R1 – 0.926 R2 – 0.93 R3 – 0.9345
Support levels:
S1 – 0.917 S2 – 0.9125 S3 – 0.9075
The material has been provided by InstaForex Company – www.instaforex.com
Overview:
USD/CHF is trading with bullish bias. The rate is undermined by negative dollar sentiment; flows to safe-haven Swiss franc amid increased risk aversion. Daily chart is negative-biased as MACD is bearish, stochastics is staying suppressed at oversold, 5- and 15-day moving averages are falling.
Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in higher range as far as it remains above its pivot point. As far as the price is above its pivot point, trading in higher range is most favorable and buy position is recommended above its pivot with the first target at 0.926 and the second target at 0.93. You should keep in view short position below the pivot keep of the first target at 0.917, breach of this target will move the pair downward further and expect the second target at 0.9125. The pivot point stands at 0.92.
Resistance levels:
R1 – 0.926
R2 – 0.93
R3 – 0.9345
Support levels:
S1 – 0.917
S2 – 0.9125
S3 – 0.9075
The material has been provided by InstaForex Company – www.instaforex.com
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