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    Technical analysis of USD/CHF for March 29, 2016 2016-03-29

    USDCHFH1.png

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    Overview:

    • The support level for the USD/CHF pair is seen at 0.9702. The pair has formed a double bottom at 0.9650. According to previous events, the double bottom is also coinciding with the major support this week. Additionally, the RSI is still calling for a strong bullish market as well as the current price is also above the support of 0.9702. It will be advantageous to buy above the support area of 0.9702 with the first target at 0.9787 so as to test the double top in the H1 chart. Additionally, if the pair breaks the price of 0.9787, then it will continue towards 0.9815 with a view to test the weekly resistance. However, the stop loss has always been taken into account. Thus, it will be useful to set it below the support at the level of 0.9702. Also, it should be noticed that the stop loss should never exceed your maximum exposure amounts.

    Intraday key levels:

    • Resistance 3:0.9928
    • Resistance 2:0.9858
    • Resistance 1:0.9815
    • Pivot Point:0.9745
    • Support 1:0.9702
    • Support 2:0.9632
    • Support 3:0.9589
  • Resistance 2:0.9858
  • Resistance 1:0.9815
  • Pivot Point:0.9745
  • Support 1:0.9702
  • Support 2:0.9632
  • Support 3:0.9589

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