USD/CHF TECHNICAL ANALYSIS
USD/CHF has been caught in a 0.90868 – 0.93735 range since August last year.
It has recently remained above a series of short, medium and long term simple moving averages (SMA).
A bullish triple moving average (TMA) formation requires the price to be above the short term SMA, the latter to be above the medium term SMA and the medium term SMA to be above the long term SMA. All SMAs also need to have a positive gradient.
Although USD/CHF is only just above the short-term 10-day SMA, the criteria for a bullish TMA has been met.
Resistance might be at the previous highs and pivot points of 0.92781, 0.92944, 0.92970, 0.93430 and 0.93735.
On the downside, support could be at the previous lows and pivot points of 0.91772, 0.91079, 0.91024, 0.90920 and 0.90868. Support may also lie at the SMA themselves.
EUR/CHF TECHNICAL ANALYSIS
EUR/CHF broke above the upper 21-day SMA based Bolling Band last week after the ECB’s hawkish announcements. It closed back inside the band yesterday. This could indicate that a reversal might unfold.
Initial support might be at the pivot point of 1.05117, then further down at another pivot point of 1.03266 and the previous low of 1.03001. Resistance may lie at the recent high of 1.06091.
USD/CHF has been caught in a 0.90868 – 0.93735 range since August last year.
It has recently remained above a series of short, medium and long term simple moving averages (SMA).
A bullish triple moving average (TMA) formation requires the price to be above the short term SMA, the latter to be above the medium term SMA and the medium term SMA to be above the long term SMA. All SMAs also need to have a positive gradient.
Although USD/CHF is only just above the short-term 10-day SMA, the criteria for a bullish TMA has been met.
Resistance might be at the previous highs and pivot points of 0.92781, 0.92944, 0.92970, 0.93430 and 0.93735.
On the downside, support could be at the previous lows and pivot points of 0.91772, 0.91079, 0.91024, 0.90920 and 0.90868. Support may also lie at the SMA themselves.
EUR/CHF TECHNICAL ANALYSIS
EUR/CHF broke above the upper 21-day SMA based Bolling Band last week after the ECB’s hawkish announcements. It closed back inside the band yesterday. This could indicate that a reversal might unfold.
Initial support might be at the pivot point of 1.05117, then further down at another pivot point of 1.03266 and the previous low of 1.03001. Resistance may lie at the recent high of 1.06091.