USD/CHF, D1
On the daily chart, the pair is trading in the upper Bollinger band. The price remains above the EMA14, EMA65, but below the EMA130 and SMA200 that are directed down. The RSI is growing having failed its longer MA. The Composite is testing its longer MA from below.
USD/CHF, H4
On the 4-hour chart, the pair is correcting down from the upper line of Bollinger Bands. The price remains above its moving averages that start turning up. The RSI turned down just below the border of the overbought zone. The Composite turned down as well, having failed its strong resistance.
Key levels
Support levels: 0.9550 (local lows), 0.9505 (local lows), 0.9445 (May 2016 lows).
Resistance levels: 0.9775 (local highs), 0.9860 (January lows), 0.9950 (May 2016 highs).
Trading tips
The pair is growing towards its medium-term descending trendline. A breakout of local highs would allow the growth to continue.
Long positions can be opened form the level of 0.9775 with targets at 0.9860, 0.9950 and stop-loss at 0.9725. Validity – 3-5 days.
Short positions can be opened from the level of 0.9550 with targets at 0.9505, 0.9445 and stop-loss at 0.9585. Validity – 3-5 days.
On the daily chart, the pair is trading in the upper Bollinger band. The price remains above the EMA14, EMA65, but below the EMA130 and SMA200 that are directed down. The RSI is growing having failed its longer MA. The Composite is testing its longer MA from below.
USD/CHF, H4
On the 4-hour chart, the pair is correcting down from the upper line of Bollinger Bands. The price remains above its moving averages that start turning up. The RSI turned down just below the border of the overbought zone. The Composite turned down as well, having failed its strong resistance.
Key levels
Support levels: 0.9550 (local lows), 0.9505 (local lows), 0.9445 (May 2016 lows).
Resistance levels: 0.9775 (local highs), 0.9860 (January lows), 0.9950 (May 2016 highs).
Trading tips
The pair is growing towards its medium-term descending trendline. A breakout of local highs would allow the growth to continue.
Long positions can be opened form the level of 0.9775 with targets at 0.9860, 0.9950 and stop-loss at 0.9725. Validity – 3-5 days.
Short positions can be opened from the level of 0.9550 with targets at 0.9505, 0.9445 and stop-loss at 0.9585. Validity – 3-5 days.