Overview :
- The USD/CHF pair has not shown signs of breaking the highest level of 0.8863. The support has already set at the spot of 0.8860 for three months. Therefore, it will be a good sign to buy above the level of 0.8863 with the first target of 0.8950 and resume to 0.9009 in order to form a triple top this week. Moreover, the resistance is going to be placed at the price of 0.9009. Hence, we expect a range of 114 pips in the coming days. However, in case a reversal takes place and the USD/CHF pair breaks through the support level of 0.8863, then the market will lead to further decline to 0.8813. Additionally, it will be able to indicate the correction movement at this level. But it should be noted that the channel emerging of RSI is still positive in the daily frame. So, the RSI calls for a new upleg at this level (0.8863). Also, we should notice a point of view that the MA(100) would be rather a confirmation for the uptrend but in a short-term period.
Intraday technical levels :
- R3: 0.8966
- R2: 0.8948
- R1: 0.8933
- PP: 0.8915
- S1: 0.8900
- S2: 0.8882
- S3: 0.8867
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via Technical analysis of USD/CHF for July 15, 2014 . Thanks for your support on Technical analysis of USD/CHF for July 15, 2014
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