USD/CHF Technical Analysis: Treading Water Above 0.92

| 11 juni, 2015 | 0 kommentarer

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Talking Points:

  • USD/CHF Technical Strategy: Flat
  • Support:0.9249, 0.9139, 0.9015
  • Resistance: 0.9360, 0.9539, 0.9656

The US Dollar moved lower against the Swiss Franc as expected after putting in a bearish Evening Star candlestick pattern. Near-term trend line support is at 0.9249, with a break below that on a daily closing basis exposing the 38.2% Fibonacci expansion at 0.9139. Alternatively, a turn above a downward-sloping barrier at 0.9360 opens the door for a challenge of support-turned-resistance at 0.9539.

Positioning is inconclusive at this point, with prices offering no clear-cut and actionable signal to initiate a long or short trade. We will continue to remain on the sidelines for the time being, waiting for a compelling opportunity to present itself.

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USD/CHF Technical Analysis: Treading Water Above 0.92

— Written by Ilya Spivak, Currency Strategist for DailyFX.com

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Kategori: Analys från DailyFX

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