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LimitMarkets

USDCHF testing psychological 1.0000 level

U.S. Dollar / Swiss Franc (OANDA:USDCHF)  
LimitMarkets Updated   
OANDA:USDCHF   U.S. Dollar / Swiss Franc
Trend Analysis Chart Patterns Wave Analysis
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trendanalysis chartpattern waveanalysis
The parity price is insistently testing the psychologically crucial 1.0000 level. If it pierces through that level, 1.0080 – 1.0100 area will be targeted. If the price loses the momentum, it will face support in the form of red line, and then at the 0.9860 level. The level of 0.9860 might be also a neckline if the price turns towards the lower band of the wedge, creating head and shoulders formation.
Comment:
The parity price declined, currently testing the vicinity of 0.9860 level. If the price breaks that level, the chances for creating a head and shoulders formation will increase. Otherwise, 1.000 level will be re-tested.
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