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

Overview :

• The major support of USD/CHF pair has already set at the level of 0.8921. Equally important, the 0.8921 price is coinciding with the ratio of 61.8% Fibonacci retracement levels. Additionally, according to the previous events, the price has still been trapped between 0.8950 and 0.9010. Supplement, the range will be around 60 pips on June 10, 2014. Also, It should be noted that if the trend is ascending, then the strength of the currency will be defined as follows: USD is in uptrend and CHF is in downtrend. Therefore, it will be of the insight to buy above the level of 0.8930 with the first target of 0.9000, it might resume to 0.9035 if the trend will be able to break the first target. Furthermore, the double top will be set at the level of 0.9035. Another thought, stop loss should never exceed your maximum exposure amounts. So, stop loss should be placed below the 0.8910 level.

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