Condizioni di trading
Strumenti
Overview:
USD/CHF is consolidating after hitting one-month low of 0.9250 on Thursday. The rate is undermined by broadly weaker demand for safe-haven USD as risk aversion decreases; much stronger-than-expected Swiss 3Q GDP annual growth of 1.4% (vs. +0.7% forecast). But USD/CHF downside is limited by positions adjustment before weekend.
Preference:
Sell below 0.9285 with targets 0.923 and 0.921 in extension.
Support Levels:
S1 - 0.923
S2 - 0.9210 (Oct. 17 reaction low)
S3 - 0.9191 (May 8 low)
Alternative scenario:
Buy above 0.9285. Above 0.9285 look for further upside with 0.9305 and 0.932 as targets.
Resistance Levels:
R1 - 0.9303 (Thursday's high)
R2 - 0.932
R3 - 0.9341 (Wednesday's high)
Technical Comment:
The pair is breaking below its support. Daily chart is still negative-biased as MACD is bearish, stochastics is reverting to bearish mode at oversold, five-day moving average is below 15-day MA and falling.
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