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    Technical analysis of USD/CHF for June 30, 2016

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    Overview:

    • The USD/CHF pair is facing strong resistances at the levels of 0.9836 and 0.9801 because the tend couldn't break this sport yesterday. So, the strong resistance is already seen at the level of 0.9836 and the pair is likely to try to approach it in order to test it again and continue its bearish movement. Furthermore, the RSI starts signaling a downward trend, as the trend is still showing weakness below the moving average (100). The trend has started breaking the moving average (100) since morning. Thus, the market is indicating a bearish opportunity below 0.9801 so it will be good to sell at 0.9801 with the first target of 0.9742. It will also call for a downtrend in order to continue towards 0.9694. The daily strong support is seen at 0.9694. consequently, we expect that the USD/CHF pair will move between the levels of 0.9801 and 0.9694. However, the stop loss should always be taken into account, for that it will be reasonable to set your stop loss at the level of 0.9860.

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