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USD/CHF Daily Technical Analysis | 19 January 2018

2018-01-18 11:41 pm | Resource: Technical Analysis | No Views : 193

Time frame Used - four hours
The USD / CHF is moving in a sideway in the near-term
The purchasing power managed to control the movement of the USD / CHF to bounce upward in corrective movement to reach the level of 0.9668 to face resistance and selling pressure pushed it down again to reach the important support level 0.9572 trying to consolidate above this level
 And looking at the technical indicators
Both the RSI and the Stochastic are indicating signs of recovery
 Accordingly, we expect the USD / CHF to test 0.9668 level, which breached above will target 0.9700 - 0.9734
 The alternative scenario is to break 0.9572 level to drop to 0.9500 levels
Resistance: 0.9641 - 0.9668 - 0.9700
Support: 0.9572 - 0.9528 - 0.9490
Direction: sideway

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