USDCHF: Support will be seen at 0.9335/50 ahead of 0.9290/0.9300

Jim Langlands FX Charts

USDCHF: 0.9391

US$Chf fell sharply from just above 0.9400 to a low of 0.9347 before grinding back towards the highs by the end of Friday’s session, leaving the outlook largely unchanged.

1 hour/4 hour indicators: Mixed.

Daily Indicators: Turning higher

Weekly Indicators: Turning lower

Preferred Strategy: The daily charts are turning higher so looking to buy dips towards 0.9350 seems to be the plan at the start of the week, hoping for a continuation of the current recovery, eventually towards 0.9470 and possibly on to 0.9500.

On the downside, support will be seen at 0.9335/50 ahead of 0.9290/0.9300.

Buy US$Chf @ 0.9340. SL @ 0.9285, TP @ 0.9465

Resistance		Support
0.9500	Minor	0.9355	Daily Tenkan
0.9500	8 Feb high	0.9347	Friday low
0.9450	Minor	0.9335/39	200 HMA /7 Feb low
0.9425	Minor	0.9300	Minor
0.9408	Friday high	0.9250	2 Feb 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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