Published On: Fri, Mar 10th, 2017

USD/CHF: technical analysis

InstaForex

USD/CHF, D1

On the daily chart, the pair is trading in the upper Bollinger band. The price remains above its moving averages that are directed up. The RSI turned down having formed a Bearish divergence with the price. The Composite is testing its longer MA, showing a divergence as well.

USD/CHF, H4

On the 4-hour chart, the pair is trading in the lower Bollinger band. The price remains just above the EMA65, EMA130 and SMA200 that start turning horizontally. The RSI is testing its beginning of the week support. The Composite is trying to turn up having developed a slightly larger decline.

Key levels

Support levels: 1.0073 (local lows), 1.0022 (local lows), 0.9950 (May 2016 highs).

Resistance levels: 1.0167 (local highs), 1.0251 (February 2016 highs), 1.0318 (November 2015 highs).

Trading tips

The pair keeps growing along a short-term ascending channel. There is a chance of a breakdown of its lower border in the region of 1.0073.

Short positions can be opened from the level of 1.0073 with targets at 1.0022, 0.9950 and stop-loss at 1.0101. Validity – 3-5 days.

Long positions can be opened from the level of 1.0167 with the target at 1.0251 and stop-loss at 1.0138. Validity – 3-5 days.

Forex Analysis

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