01.07.201408:35 Forex Analysis & Reviews: Technical analysis of USD/CHF for July 01, 2014

Long-term review

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The pair has been in a down trend from 0.9037 levels. In yesterday's session, it closed below the 50-day Sma and made a low at 0.8863 levels. Today in Asia's session, it well managed to hold above the previous low. The daily momentum oscillators favor a pull back. We expect a limited downfall from the current price at 0.8874. The bulls will take complete control only above 0.8907 levels and can claim for 0.8953 and 0.8980/0.90 levels. If the pair hits the previous low, it may extend its fall to 0.8826 and 0.8765 levels. We recommend to go long at this current market price.

Intraday- cmp 0.8875

The hourly Stochstics is indicating an oversold expecting an outcome of pull back/limited down fall. The pair has an initial resistance at 0.8909, above this, it can fly up to 0.8889 , 0.8920 and 0.8940 levels. On the down side, it has support at 0.8830 levels.

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