USD/CHF
Traders are keeping an eye on the FOMC meeting minutes. The pair is testing its luck at 50-day Sma 0.8920. This is the last support hold by bulls. If this happens, the pair would shift to a free fall mode towards 0.8887, 0.8870, and 0.8830 levels. On the upside, it has resistance at 20-day Sma 0.8937 and 0.8950 (200-day Sma). We recommend to sell below 0.8920 for 0.8887, and 0.8860 levels.
For an intraday basis, the pair is trading below the hourly moving averages. It has a support at 0.8920 breaks below this, it can try to hold at 0.8908 levels. We can see selling pressure below 0.8908 for 0.8895 and 0.8886 levels. On the upside, it has resistance at 0.8932 and 0.8940 levels. We can see fresh buying only above 0.8940 levels .
Safe buy above 0.8960 target 0.9060
Weakness below 0.8920, panic below 0.8908 . Safe sell below 0.8908
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via Intraweek forecast and an intraday analysis of USD/CHF for July 09- July 11, 2014 . Thanks for your support on Intraweek forecast and an intraday analysis of USD/CHF for July 09- July 11, 2014
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