USD/CHF: Strong resistance at 1.0330

FX:USDCHF   U.S. Dollar / Swiss Franc
16 0 1
  • USD/CHF took out 2015 high last week and rose to its 5-year high. However, the spot faces a strong resistance at 1.0330 (triangle resistance).

    I would prefer waiting for a monthly closing, before taking a decision on whether to go long or short.

    Another point to note is, the pair appears overbought on the daily chart and hence stands exposed to a technical correction.

    So a monthly closing above 1.0330 may not be followed by a rally, but by a technical correction. HOwever, if the Nov closing is above 1.0330, the odds are high that the pair could move back above the same and extend gains to 1.05-1.06 levels.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out