InstaForex - Analytics

    InstaForex

    695.00 6.50/10
    61% of positive reviews
    Real

    Technical analysis of USD/CHF for February 02, 2015

    USDCHFM30.png

    Show full picture

    Fundamental overview:
    USD/CHF is expected to trade in a higher range. It is supported by the franc sales on cross trades versus major currencies, the negative Swiss interest rates and the threat of the SNB CHF-selling intervention. But the CHF sentiment is boosted by stronger than expected Switzerland January KOF economic barometer of 97.0 (versus forecast 93.6). The USD/CHF gains are also tempered by the weaker USD sentiment.

    Technical comment:
    The daily chart is positive-biased as the MACD and stochastics are bullish, five-day moving average is rising above 15-day moving average.

    Trading recommendations:
    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 long as the price is keeping above its pivot point, a long position is recommended with the first target at 0.9365 and the second target at 0.9435. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9075. A break of this target would push the pair further downwards, and one may expect the second target at 0.8985. The pivot point is at 0.9150.

    Resistance levels:
    0.9365
    0.9435
    0.9465

    Support levels:
    0.9075
    0.8985
    0.8935

    Uitgevoerd door, Analytische expert
    InstaForex Group © 2007-2015

    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree