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Technical analysis of USD/CHF for July 04, 2016


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USD/CHF is expected to trade in lower range as the movement is capped by a negative trend line.U.S. stock indices posted the modest gains giving a winning streak of four straight sessions. Trading volume was very small ahead of the long weekend (U.S. markets are closed on Monday, July 4 for the Independence Day holiday) The pair stays below its key resistance at 0.9775, and remains capped by a descending trend line since June 30. At the same time, the relative strength index is mixed to bearish. In conclusion, as long as 0.9775 holds on the upside, the pair is likely to return to 0.9710, and then to 0.9690.

Resistance levels: 0.9840, 0.9900, 0.9945

Support levels: 0.9725, 0.9725, 0.9660

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