Download MetaTrader 5

The Week Ahead On USDCHF

To add comments, please log in or register
FXTechstrategy Team
FXTechstrategy Team 2014.10.11 14:59 
USDCHF: Weakens But With Caution

USDCHF: With the pair closing lower the past week, it faces further downside pressure. However, on the daily chart that weakness seem to have been halted suggesting a resumption of its broader upside could be developing. On the downside, support lies at the 0.9500 level with a break targeting the 0.9450 level and then the 0.9400 level. Further down, support comes in at the 0.9350 level. A cut through here will target the 0.9300 level. On the upside, resistance resides at the 0.9680 level where a break will aim at the 0.9750 level. Further out, resistance resides at the 0.9800 level. A breather may occur here and turn the pair lower. All in all, the pair remains biased to the upside in the medium term despite recovery threats.


To add comments, please log in or register