Overview :
- The price of USD/CHF pair has still been moving between the prices of 0.9455 and 0.9315 but it should be noticed that the price has set below strong resistance at the level of 0.9455 (100% of Fibonacci retracement levels in daily chart). Moreover, it is worthy of note that these levels coincide between 78.6% and 100% of Fibonacci retracement levels and the pair has already formed a strong resistance around the double top. So, now it is approaching it in order to test it. Therefore, the Swissy's downside momentum is rather convincing and the structure of the fall does not look corrective. In order to indicate a bearish opportunity below 0.9455, it will a good idea to sell below 0.9455 with the first target of 0.9366. It will call for a downtrend falling further towards 0.9293 to try to break the price of 0.9366t.
Intraday technical levels :
Date and Time:11/09/2014 12:07
Pair:USD/CHF
- R3: 0.9480
- R2: 0.9438
- R1: 0.9403
- PP: 0.9361
- S1: 0.9326
- S2: 0.9284
- S3: 0.9249
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of USD/CHF for September 11, 2014 . Thanks for your support.
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