USDCHF: Support will be seen at 0.9335/50 ahead of 0.9290/0.9300
|USDCHF: 0.9391
US$Chf fell sharply from just above 0.9400 to a low of 0.9347 before grinding back towards the highs by the end of Friday’s session, leaving the outlook largely unchanged.
1 hour/4 hour indicators: Mixed.
Daily Indicators: Turning higher
Weekly Indicators: Turning lower
Preferred Strategy: The daily charts are turning higher so looking to buy dips towards 0.9350 seems to be the plan at the start of the week, hoping for a continuation of the current recovery, eventually towards 0.9470 and possibly on to 0.9500.
On the downside, support will be seen at 0.9335/50 ahead of 0.9290/0.9300.
Buy US$Chf @ 0.9340. SL @ 0.9285, TP @ 0.9465
| Resistance | Support | ||
| 0.9500 | Minor | 0.9355 | Daily Tenkan |
| 0.9500 | 8 Feb high | 0.9347 | Friday low |
| 0.9450 | Minor | 0.9335/39 | 200 HMA /7 Feb low |
| 0.9425 | Minor | 0.9300 | Minor |
| 0.9408 | Friday high | 0.9250 | 2 Feb low |
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.