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 |
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