Monday 9 June 2014

Technical analysis of USD/CAD and USD/CHF for June 10, 2014 Trend News

USD/CAD


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The pair has been in an uptrend from 1.0813 levels. It was pushed to 50-day SMA and was rejected four times to close above that. As of now, in Asia's session the pair made a double bottom at 1.09 levels. If this bottom breaks, it will take support at 1.0890 levels. The weakness will exist below at 1.0890, can fall further to 1.0868 and 1.0840 levels, maybe even lower at 1.0822 levels. For one month, the pair has been making a base at 1.0810 levels. If it breaks below this, it can fall to 1.0786 (200-day EMA). On the upside, a day close above the 50-day SMA, it can climb up to 1.1, 1.1030, and 1.1050 levels.


USD/CHF


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The pair has been in an uptrend from 0.87 levels and moved to the 200-day EMA, but it was rejected to close above that. As of now, in Asia's session the pair opened on a slightly bullish note. The pair looks weak below 0.8969, it can take support at 0.8934 and 0.89 levels. Once the pair breaks the 38.2 fib level, it can fall to 0.8882 and 0.8872 levels. The weakness will double below 0.8872 for 0.8858, 0.8830 and 0.88 levels. On the up side, if the pair closes above the 200-day EMA (0.8986), it can fly up to 0.9036, 0.9060, and 0.9080 levels.


The material has been provided by InstaForex Company - www.instaforex.com



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