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    Technical analysis of USD/CHF for May 15, 2015

    USDCHFM30.png

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    Fundamental overview:
    USD/CHF is expected to consolidate with risks skewed higher after hitting a weekly low of 0.9073 on Thursday. It is supported by negative Swiss interest rates and the threat of Swiss National Bank CHF-selling intervention. But USD/CHF gains are tempered by the positions adjustment ahead of the weekend.

    Technical comment:
    The daily chart is still negative-biased as the MACD and stochastics are in bearish mode.

    Trading recommendations:
    The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 0.9240 and the second target at 0.9295. In the alternative scenario, short positions are recommended with the first target at 0.9060 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.8970. The pivot point is at 0.9140.

    Resistance levels:
    0.9240
    0.9295
    0.9345
    Support levels:
    0.9060
    0.8970
    0.89

    Uitgevoerd door, Analytische expert
    InstaForex Group © 2007-2015

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