Weekly technical levels for the USD/CHF pair.
Date: April 1, 2014 .
The movement of pivot point among resistances and supports.
- If the price is at pivot point, watch for a move back to resistance 1 or support 1.
- If the price is at resistance 1, expect a move to resistance 2 or back towards pivot point.
- If the price is at support 1, expect a move to support 2 or back towards resistance 1.
- If the price is at support 2, expect a move to support 3 or back towards support 1.
- If the price is at resistance 2, expect a move to resistance 3 or back towards resistance 1.
Notes :
- It should be noted that if there is no significant news to influence, the market price will be moving from pivot point to resistance 1 or support 1. But if there is significant news to influence, the market price may go straight through resistance 1 or support 1 and reaches resistance 2 or support 2 and even resistance 3 or support 3.
- The resistance will set at the level of 0.8915 this week.
- The double top is going to set at the 0.8898 price.
- The area of 0.8900 is useful spot to sell in the long term.
- We expect a range of 67 pips on April 1, 2014.
The material has been provided by InstaForex Company - www.instaforex.com
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