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USD/CHF Daily Technical Analysis | 23 January 2018

2018-01-23 12:43 am | Resource: Technical Analysis | No Views : 167

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 up to 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 hold above this level and then start the rebound again to the top where still facing resistance Around 0.9668
 And looking at the technical indicators
The RSI indicates that it still faces the resistance of the rising trend line
The Stochastic indicator indicates that the index is starting to recover again
 Accordingly, we expect the USD / CHF to fall to 0.9572 - 0.9533
 The alternative scenario is to break the 0.9572 level to drop to 0.9500
Resistance: 0.9641 - 0.9668 - 0.9700
Support: 0.9572 - 0.9528 - 0.9490
Direction: sideway

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