USDCHF: Range Trade

Jim Langlands FX Charts

USDCHF: 0.9930

US$Chf remains choppy within its recent range (0.9912/0.9968). While the short term momentum indicators are fairly neutral, the daily charts do look slightly heavy, so a break of the day’s low (0.9912) could see a return to Monday’s spike down to 0.9895 and possibly towards 0.9870. On the topside, resistance will again be seen at 0.9970/75, ahead of a possible return to parity. This seems unlikely today and selling into strength is preferred.

24 Hour: Range Trade		Medium Term: Neutral – Mildly Bearish
Resistance		Support
1.0070	100 DMA	0.9912	Session low
1.0057	(76.4% of 1.0107/0.9895)	0.9895	24 Apr low
1.0026	(61.8% of 1.0107/0.9895)	0.9882	(76.4% of 0.9818/1.0104)
1.0000	(50% of 1.0107/0.9895)	0.9865	Minor
0.9968/75	Session high /(38.2% of 1.0107/0.9895)	0.9830	28 Mar low

Author

Jim Langlands

FX Charts

Jim Langlands began his trading career in the commodities markets in London in 1976, before moving to Australia in 1979 to work as a floor trader on the Sydney Futures Exchange.

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