FxWirePro
Long

USD/CHF key support at 1.0224, bullish in the short term

FX:USDCHF   U.S. Dollar/Swiss Franc
210 0 4
The USD/CHF             rebounded from 1.0252 levels, erasing the earlier losses, after US ISM manufacturing PMI data released from the US market printed negative figures. The short term picture depicts more bullish trend for this pair, as the pair is supported by rising trend line , the relative index in the 4 hour chart is slightly pointing downwards, the 55, 30 and 20 MA’s is indicating upward momentum. Overall the technical indicators are depicting more upside for this pair.

On the data front, US is will release ADP Nonfarm Employment Change data on Wednesday, forecasted at 190k from the previous reading of 182k, and if the data prints negative figures, the pair could test the trend line support.

To the upside, the strong resistance can be seen at 1.0288, a break above this level would take the pair towards next resistance level at 1.0344.

To the downside immediate support can be seen 1.0224, a break below this level will take the pair to next level at 1.0195.

Recommendation: Go long above 1.0230, targets 1.0300, 1.0350, SL 1.0195

Support levels: 1.0224, 1.0197, 1.0144

Resistance levels: 1.0288, 1.0320, 1.0344

United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
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 Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out