USDCHF Technical Analysis: recovering after finding support below the 0.95
8 April 2015, 09:11
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The US Dollar is attempting to launch a recovery after finding support
below the 0.95 figure against the Swiss Franc. Near-term resistance is
at 0.9746, the 14.6% Fibonacci expansion, with a break above that on a
daily closing basis exposing the 23.6% level at 0.9910. Alternatively, a
reversal below the 38.2% Fib retracementat 0.9428clears the way for a
challenge of the 50% threshold at 0.9213.
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.
| Resistance | Support |
|---|---|
| 0.9746 | 0.9428 |
| 0.9910 | 0.9213 |
| 1.0177 | 0.8997 |
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.
