InstaForex - Analytics


    736.75 6.25/10
    62% of positive reviews

    Technical analysis of USD/CHF for July 10, 2015


    Show full picture

    USD/CHF is expected to consolidate with bearish tone. It is supported by the franc sales on the buoyant EUR/CHF cross and the threat of the Swiss National Bank to carry out CHF-selling intervention, and the negative Swiss interest rates.

    Technical comment:

    The daily chart is positive-biased as the MACD and stochastics are bullish, although the latter one is at overbought levels.

    Trading recommendations:

    The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 0.9340. A break of that target will move the pair further downwards to 0.9280. The pivot point stands at 0.9425. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to mo ve further to the upside. According to that scenario, long positions are recommended with the first target at 0.475 and the second target at 0.9515.

    Resistance levels: 0.9475 0.9515 0.9550

    Support levels: 0.9340 0.9280 0.9250

    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