For Traders

Analytical Reviews

Technical analysis

23.02.201707:28 Forex Analysis & Reviews: Technical analysis of USD/CHF for February 23, 2017

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.

USD/CHF is expected to trade with a bullish bias above 1.0070. The pair is consolidating below its 20-period and 50-period moving averages. The relative strength index is around is neutrality level at 50. Nevertheless, 1.0080 is playing a key support role, which should limit the downside potential. Even though a continuation of consolidation cannot be ruled out, its extent should be limited.

The U.S. dollar weakened against the euro and Japanese yen as the Fed minutes were less hawkish than expected and failed to provide a clear sign about the timing of interest rate rises.

As long as 1.0070 is support, look for a further upside toward 1.0140 and even 1.0165 in extension.

Resistance levels: 1.0140, 1.0160, and 1.0195

Support levels: 1.0045, 1.0015, and 0.9975

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.