USD/CHF Technical Analysis: More ranges ahead
|- USD/CHF main bear trend is on hold.
- USD/CHF has rebounded from the 0.9600 figure and is now in consolidation mode between the 0.9700 and 0.9650 level.
- The RSI, MACD and Stochastics indicators are bullish suggesting that the bullish pullback is not over yet and more consolidation in the 0.9700-09650 band is to come before the next directional move.
Spot rate: 0.9669
Relative change: 0.24%
High: 0.9701
Low: 0.9632
Main trend: Bearish
Short-term trend: Bullish
Resistance 1: 0.9700 figure
Resistance 2: 0.9745-47, August 28 low, 200-day simple moving average
Resistance 3: 0.9768 September 4 swing high
Resistance 4: 0.9788 June 7 swing low (key level)
Resistance 5: 0.9807 August 22 low
Resistance 6: 0.9820 August 25 low
Support 1: 0.9650 August 29 low
Support 2: 0.9580-0.9600 April 17 low, figure
Support 3: 0.9500 figure
Support 4: 0.9400 figure
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