fxstraderomi

USD/CHF: Strong resistance at 1.0330

FX:USDCHF   U.S. Dollar/Swiss Franc
15 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.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out