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06.02.201510:52 Forex Analysis & Reviews: Technical analysis of USD/CHF for February 06, 2015

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.
Exchange Rates 06.02.2015 analysis

Fundamental overview:
USD/CHF is expected to consolidate in a lower range as markets await the U.S. non-farm payrolls report. USD/CHF is undermined by the broadly weaker dollar undertone and the franc demand on buoyant CHF/JPY cross. But the USD/CHF losses are tempered by the negative Swiss interest rates, the threat of the SNB CHF-selling intervention and position adjustment ahead of the weekend.

Technical comment:
The daily chart is still positive-biased as the MACD and stochastics are in bullish mode.

Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below the pivot point. Short positions are recommended with the first target at 0.9160. A break of this target will move the pair further downward to 0.9075. The pivot point stands at 0.9290. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, a long position is recommended with the first target at 0.9365 and the second target at 0.9435.

Resistance levels:
0.9365
0.9435
0.9465

Support levels:
0.9160
0.9075
0.8985

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