Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro –USDCHF Daily Outlook

Intraday bias - Bearish

 

USDCHF continues to trade lower after a minor jump above 0.9700. The Swiss franc performed very well against all majors as Swiss National Bank hiked rates surprisingly by 50bpbs. Technically in the 4-hour chart, the pair is holding below the short-term (21- and 55 EMA) and long-term moving average of 200 EMA (0.97870). Any close below 0.9600 confirms intraday bearishness. A dip to 0.9550/0.9500 is possible.  USDCHF hits an intraday low of 0.96433 and is currently trading around 0.96722.

 

The near-term resistance is around 0.9730 any breach above targets 0.9780/0.9865.

 

Indicators (4- Hour chart)

 

CCI (50)- Bearish

 

ADX- Bearish

 

It is good to sell on rallies around 0.9660 with SL around 0.9725 for TP of 0.9500.

 

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.