USD/CHF is trading in lower range. The rate is undermined by spillover from EUR strength on CHF. But USD/CHF losses tempered by SNB’s Danthine’s comment in interview with the Tribune de Geneve that the franc remains too strong despite its recent weakening versus the euro; improved USD sentiment; CHF sales on buoyant EUR/CHF cross; positions adjustment before weekend. Daily chart is mixed as MACD is bullish, but stochastic is in bearish mode.
Sell below 0.9345 with 0.927 and 0.921 as next targets.
S1 – 0.9275-0.9272 (Thursday’s low-Tuesday’s low)
S2 – 0.9208 (Jan. 15 low)
S3 – 0.9175
Buy above 0.9345. The upside penetration of 0.9345 will call for 0.939 and 0.941.
R1 – 0.9389 (Jan. 18 high)
R2 – 0.941
0.9434 (200-day moving average)
The RSI lacks upward momentum: a consolidation of last week upmove is expected.
The material has been provided by Instaforex Company – http://www.instaforex.com/