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    Technical analysis of USD/CHF for March 18th, 2016 2016-03-18

    USDCHFH1.png

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    Overview:

    • The USD/CHF pair dropped sharply from the level of 0.9721 towards 0.9662. Now, the price is set at 0.9700. In the H1 chart, the resistance of the USD/CHF pair is seen at the levels of 0.9730 and 0.9802. It should be noted that volatility is very high for that the USD/CHF pair will be still moving between 0.9660 and 0.9802 in coming hours. Moreover, the price spot of 0.9660 remains a significant support zone.Therefore, there is a possibility that the USD/CHF pair will move upwards, and the structure does not look corrective. In order to indicate the bullish opportunity above 0.9660, buy above 0.9660 with the first target at 0.9721 in order to test top's bottom. Additionally, if the USD/CHF pair is able to break out the bottom at 0.9721, the market will rise further to 0.9802 in order to test the resistance. Also, it should be noticed that the major resistance is seen at the level of 0.9910 which coincides with the weekly pivot point.

    Intraday technical levels:

    • Major resistance:0.9802
    • Minor resistance:0.9721
    • Intraday pivot point:0.9683 (weekly pivot is seen at 0.9910)
    • Minor support:0.9665
    • Major support:0.9619
  • Minor resistance:0.9721
  • Intraday pivot point:0.9683 (weekly pivot is seen at 0.9910)
  • Minor support:0.9665
  • Major support:0.9619

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