USD/CHF, D1
On the daily chart, the pair is trading in the upper Bollinger band. The price remains above its moving averages that are horizontal. The RSI is testing its last month resistance. The Composite turned down.
USD/CHF, H4
On the 4-hour chart, the pair is trading just above the middle MA of Bollinger Bands. The price remains above the EMA14, EMA65 and SMA200 that are directed up. The RSI is falling having formed a Bearish divergence with the price. The Composite is falling as well having broken down its longer MA.
Key levels
Support levels: 1.0048 (local lows), 0.9992 (local lows), 0.9950 (May 2016 highs).
Resistance levels: 1.0102 (local highs), 1.0159 (March highs), 1.0185 (November 2016 highs).
Trading tips
The price is testing its medium-term descending trendline. If it fails to consolidate above it, the fall is likely to resume.
Short positions can be opened form the level of 1.0048 with targets at 0.9992, 0.9950 and stop-loss at 1.0073. Validity – 3-5 days.
Long positions can be opened form the level of 1.0102 with targets at 1.0159, 1.0185 and stop-loss at 1.0075. Validity – 3-5 days.
On the daily chart, the pair is trading in the upper Bollinger band. The price remains above its moving averages that are horizontal. The RSI is testing its last month resistance. The Composite turned down.
USD/CHF, H4
On the 4-hour chart, the pair is trading just above the middle MA of Bollinger Bands. The price remains above the EMA14, EMA65 and SMA200 that are directed up. The RSI is falling having formed a Bearish divergence with the price. The Composite is falling as well having broken down its longer MA.
Key levels
Support levels: 1.0048 (local lows), 0.9992 (local lows), 0.9950 (May 2016 highs).
Resistance levels: 1.0102 (local highs), 1.0159 (March highs), 1.0185 (November 2016 highs).
Trading tips
The price is testing its medium-term descending trendline. If it fails to consolidate above it, the fall is likely to resume.
Short positions can be opened form the level of 1.0048 with targets at 0.9992, 0.9950 and stop-loss at 1.0073. Validity – 3-5 days.
Long positions can be opened form the level of 1.0102 with targets at 1.0159, 1.0185 and stop-loss at 1.0075. Validity – 3-5 days.