USD/CHF, D1
On the daily chart, the pair is correcting up from the lower line of Bollinger Bands. The price remains just below its moving averages that are horizontal. The RSI is falling towards the border of the oversold zone. The Composite is testing its last month support.
USD/CHF, H4
On the 4-hour chart, the pair is trading on the lower line of Bollinger Bands. The price remains below its moving averages that start turning down. The RSI keeps forming a Bullish divergence with the price. The Composite is showing similar dynamics.
Key levels
Support levels: 0.9902 (today’s gap), 0.9828 (March lows), 0.9780 (December 2015 lows).
Resistance levels: 0.9950 (May 2016 highs), 0.9998 (local highs), 1.0044 (local highs).
Trading tips
The pair turned down having failed its medium-term descending trendline. There is a chance the fall will continue.
Short positions can be opened from the level of 0.9899 with targets at 0.9828, 0.9780 and stop-loss at 0.9945. Validity – 3-5 days.
Long positions can be opened from the level of 0.9998 with the target at 1.0044 and stop-loss at 0.9979. Validity – 3-5 days.
On the daily chart, the pair is correcting up from the lower line of Bollinger Bands. The price remains just below its moving averages that are horizontal. The RSI is falling towards the border of the oversold zone. The Composite is testing its last month support.
USD/CHF, H4
On the 4-hour chart, the pair is trading on the lower line of Bollinger Bands. The price remains below its moving averages that start turning down. The RSI keeps forming a Bullish divergence with the price. The Composite is showing similar dynamics.
Key levels
Support levels: 0.9902 (today’s gap), 0.9828 (March lows), 0.9780 (December 2015 lows).
Resistance levels: 0.9950 (May 2016 highs), 0.9998 (local highs), 1.0044 (local highs).
Trading tips
The pair turned down having failed its medium-term descending trendline. There is a chance the fall will continue.
Short positions can be opened from the level of 0.9899 with targets at 0.9828, 0.9780 and stop-loss at 0.9945. Validity – 3-5 days.
Long positions can be opened from the level of 0.9998 with the target at 1.0044 and stop-loss at 0.9979. Validity – 3-5 days.