16.07.201405:27 Forex Analysis & Reviews: Technical Analysis of USD/CHF for July 16, 2014

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The pair is trading above the three weeks high and facing resistance at 50-W Sma at the 0.90 levels. Currently, the pair is trading at the 0.8959 levels. If the pair managed to close above 0.90 on a weekly closing basis, the bulls are back on track for the short-term rally. On the down side, the pair has support at the 0.89 levels.

Intraweek resistance - 0.8976 0.90

Intraweek support - 0.8945 0.8936 0.8899

Monthly support - 0.8857

The pair is close above the short-term averages in the daily chart. If the pair closes above 50-D Sma and 200-D Sma, it is a good sign. The pair has resistance at 0.8976 levels. For an intraday basis, the pair is facing strong resistance at 0.8963. Above this, it can fly up to 0.8976, 0.90, and 0.9059 levels. On the down side, it has support at 0.8955, below this at 0.8936, and 0.8926 levels. The pair looks weak below 0.8926 for a downside move to the 0.8912 and 0.8899 levels.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.