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10 Mar 2014
USD/CHF rebounding off key support
FXStreet (Guatemala) - USD/CHF has been testing the 2012-2014 support line at 0.8757 which represents key support and where the pair has managed to climb away again from at the start of the week.
Karen Jones explained that a close above the downtrend line at 0.8905 is needed to alleviate immediate downside pressure. “A daily chart close below Friday’s low at 0.8756 will target the 0.8568 October 2011 low”. From the calendar, key on the week for the pair will come as US retail sales.
USD/CHF Levels
The 20 DMA is 0.8888, the 50 DMA is 0.8968 and the 200 DMA is 0.9142. RSI (14) reads 32.06. Supports are 0.8612, 0.8651, 0.8706 and 0.8756. Spot is 0.8780 while resistances are 0.8791, 0.8816, 0.8841 and 0.8861.
Karen Jones explained that a close above the downtrend line at 0.8905 is needed to alleviate immediate downside pressure. “A daily chart close below Friday’s low at 0.8756 will target the 0.8568 October 2011 low”. From the calendar, key on the week for the pair will come as US retail sales.
USD/CHF Levels
The 20 DMA is 0.8888, the 50 DMA is 0.8968 and the 200 DMA is 0.9142. RSI (14) reads 32.06. Supports are 0.8612, 0.8651, 0.8706 and 0.8756. Spot is 0.8780 while resistances are 0.8791, 0.8816, 0.8841 and 0.8861.