Back
14 Mar 2014
USD/CHF downside will remain below 0.8805
FXStreet (Guatemala) - USD/CHF has been threatening the downside n the last trading day of the week, weighing heavily through 0.8740 and marking a low of 0.8704.
USD/CHF has so far dropped to the lowest level of .8698 on the week. Karen Jones, chief analyst at Commerzbank explained the 0.8568 October 2011 low and 50% retracement of the 2011-12 rise at 0.8520 will only be in focus once 0.8698 has given way. “In the short term we expect to see a recovery from this level back towards the 0.8777 February low. Immediate downside pressure will be maintained while the currency pair trades below the 0.8805 March 11 high. Further resistance comes in around the 0.8831mid-December low and along the downtrend line at 0.8875. This will need to be overcome in order to alleviate immediate downside pressure.
USD/CHF Levels
The 20 DMA is 0.8846, the 50 DMA is 0.8954 and the 200 DMA is 0.9128. RSI (14) reads 29.74. Supports are ascending from 0.8612, 0.8651 and 0.8698. Spot is 0.8715, 0.8756 while resistances are 0.8766 0.8788, 0.8805 and 0.8818.
USD/CHF has so far dropped to the lowest level of .8698 on the week. Karen Jones, chief analyst at Commerzbank explained the 0.8568 October 2011 low and 50% retracement of the 2011-12 rise at 0.8520 will only be in focus once 0.8698 has given way. “In the short term we expect to see a recovery from this level back towards the 0.8777 February low. Immediate downside pressure will be maintained while the currency pair trades below the 0.8805 March 11 high. Further resistance comes in around the 0.8831mid-December low and along the downtrend line at 0.8875. This will need to be overcome in order to alleviate immediate downside pressure.
USD/CHF Levels
The 20 DMA is 0.8846, the 50 DMA is 0.8954 and the 200 DMA is 0.9128. RSI (14) reads 29.74. Supports are ascending from 0.8612, 0.8651 and 0.8698. Spot is 0.8715, 0.8756 while resistances are 0.8766 0.8788, 0.8805 and 0.8818.