Technical analysis of USD/CHF for April 14, 2017 888011000 110888 Overview: The USD/CHF set continues to move down from the level of 1.0057. This morning, the pair dropped from the level of 1.0057(this level of 1.0057 corresponds of the 50%Fibonacci retracement) to set around the rate of 1.0040. Today, the very first resistance level is seen at 1.0057 followed by 1.0086, while day-to-day assistance 1 is seen at 1.0008. According to the previous events, the USD/CHF set is still moving in between the levels of 1.0057 and 0.9960; for that we anticipate a variety of 97 pips. If the USD/CHF pair cannot break through the resistance level of 1.0057, the market will decrease even more to 1.0008. This would recommend a bearish market because the RSI indication is still in a favorable location and does disappoint any trend-reversal indications. The set is expected to drop lower to a minimum of 0.9960 in order to form a new double bottom. On the other hand, if a breakoutoccurs at the resistance level of 1.0057, then this situation might end up being invalidated.The material has been offered by InstaForex Business-www.instaforex.com

By | April 14, 2017

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