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USD/CHF Daily Technical Analysis | 6 February 2018

2018-02-06 04:53 am | Resource: Technical Analysis | No Views : 272

Time frame Used - four hours
The USD / CHF is moving in a sideway in the near-term
The USD / CHF was able to control the USD / CHF move to break the important support level of 0.9418 to reach the support level 0.9253 and try to consolidate around this level as the USD / CHF is floating in a descending channel as it managed to breach the descending channel to reach the 0.9375 level to face resistance and selling pressure on it. Level to retrace slightly near the 0.9300 level
 And looking at the technical indicators
The Relative Strength Index (RSI) points to the continued positive performance of the indicators
 The Stochastic Indicator indicates that the index continues to decline
 Accordingly, we expect the USD / CHF to test 0.9394 - 0.9535 again
 The alternative scenario is to break the 0.9253 level down to 0.9152
Resistance: 0.9394- 0.9535 - 0.9638
Support: 0.9253 - 0.9150 - 0.9100
Direction: sideway

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