USDCHF: Resistance will again be seen at 0.9380/90

Jim Langlands FX Charts

USDCHF: 0.9347

US$Chf has had a choppy session and is ending the day a little lower, albeit without any major change in the outlook.

1 hour/4 hour indicators: Turning higher

Daily Indicators: Down

Weekly Indicators: Turning lower

Preferred Strategy: As before, the longer term charts look heavy, and if the support at 0.9288 does get taken out we could head quickly to the August 2015 low at 0.9257, below which there is a black hole until around 0.9150.

The shorter term charts though look a little more positive though, and on the topside, resistance will again be seen at 0.9380/90, a break of which could see the dollar carry on to the 26 Jan high 0.9430. Given the momentum of the 4 hour charts buying dips for the next 24 hours is preferred.

Resistance		Support
0.9475	Minor	0.9325	Minor
0.9452	(23.6% of 0.9977/0.9288)	0.9310/03	Session low/ 26 Jan low
0.9430	26 Jan high	0.9288	25 Jan low
0.9392	Session high	0.9257	Aug 2015 low
0.9375	Minor	0.9210	Minor

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Trade Balance

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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