InstaForex - Analytics


    736.75 6.25/10
    62% of positive reviews

    Technical analysis of USD/CHF for July 21, 2015


    Show full picture

    USD/CHF is expected to consolidate with bullish bias after hitting almost the three-month high of 0.9651 this morning. The pair is underpinned by the positive dollar sentiment, the threat of the Swiss National Bank to carry out CHF-selling intervention, the negative Swiss interest rates, and the franc sales on the rebounding EUR/CHF cross.

    Technical comment:

    The daily chart is positive-biased as the MACD and stochastics are bullish, although latter is at overbought levels. Five and 15-day moving averages are advancing.

    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 0.9655 and the second target at 0.9690. In the alternative scenario, short positions are recommended with the first target at 0.9535 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 0.95. The pivot point is at 0.9570.

    Resistance levels: 0.9655 0.9690 0.9745

    Support levels: 0.9535 0.95 0.9450

    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