25 Mar 2014
USD/CHF well bid just below days high
FXStreet (Guatemala) - USD/CHF has been a top performer on the day, Tuesday, as the pair took flight from the 0.88 handle and approached key technical resistance at 0.8880.
USD/CHF is currently oscillating below the highs after positive US data keeps the pair well supported and better bid at 0.8870 at this moment. Axel Rudolph, Senior Technical Analyst at Commerzbank explained that the USD/CHF held sideways on Friday consolidating last weeks gains. “Last week it eroded its 2 month downtrend to reach the 38.2% retracement at 0.8873. We should see further gains this week initially to the 0.8927/30 26th February high and eventually the 200 day ma at 0.9113”. He went onto say that dips lower should find good support at 0.8805, 0.8785 and be contained by the 0.8698 recent low.
USD/CHF Levels
The 20 DMA is 0.8806, the 50 DMA is 0.8916 and the 200 DMA is 0.9111. RSI (14) reads 67.08. Supports are ascending from 0.8729, 0.8742, 0.8760, 0.8788, 0.8808 and 0.8837. Spot is 0.8870 and next resistance through 0.8880 is
0.8919.
USD/CHF is currently oscillating below the highs after positive US data keeps the pair well supported and better bid at 0.8870 at this moment. Axel Rudolph, Senior Technical Analyst at Commerzbank explained that the USD/CHF held sideways on Friday consolidating last weeks gains. “Last week it eroded its 2 month downtrend to reach the 38.2% retracement at 0.8873. We should see further gains this week initially to the 0.8927/30 26th February high and eventually the 200 day ma at 0.9113”. He went onto say that dips lower should find good support at 0.8805, 0.8785 and be contained by the 0.8698 recent low.
USD/CHF Levels
The 20 DMA is 0.8806, the 50 DMA is 0.8916 and the 200 DMA is 0.9111. RSI (14) reads 67.08. Supports are ascending from 0.8729, 0.8742, 0.8760, 0.8788, 0.8808 and 0.8837. Spot is 0.8870 and next resistance through 0.8880 is
0.8919.