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Dollar/Swiss Still In Intact Downward Channel

Dollar/Swiss Still In Intact Downward Channel

USD/CHF Open 0.9544 High 0.9571 Low 0.9498 Close 0.9539

On Monday dollar/franc decreased with 70 pips. The European currency depreciated from 0.9571 to 0.9501 yesterday, not matching the positive money flow sentiment at almost +2%, closing the day at 0.9539. This morning the dollar descended slightly further against the Swiss franc, reaching 0.9498.

On the 1-hour chart the downward channel has slowed down, while on the 3-hour chart the small angle downward channel looks good. Break above the nearest resistance and yesterday’s top at 0.9571 may lead to further lifting of the dollar. Going below today’s bottom and first support at 0.9498, however, could diminish the currency pair more, towards next objective downwards 0.9386.

Quotes are moving just above the parallel 20 and 50 EMA on the 1-hour chart, indicating slim bullish pressure. The value of the RSI indicator is neutral and hesitant, MACD is positive and calm, while CCI has thinly crossed up the 100 line on the 1-hour chart, giving over all light long signals.

Technical resistance levels: 0.9571 0.9677 0.9789 Technical support levels: 0.9498 0.9386 0.9275

Today +45 pips gained on USD/CHF from the following signal: 5:30 GMT+1 Sell USD/CHF at 0.9543 SL 0.9569 TP 0.9493, exit given at 9:03 GMT+1.

Total today +166, as shown at our web site.

Have a great day!

USD/CHF Chart

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