USDCHF: Resistance will again be seen at 0.9380/90
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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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.
