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13 Mar 2014
USD/CHF holding above ket supporting areas on 0.87 handle
FXStreet (Guatemala) - USD/CHF has been holding up keen supply on the 0.87 handle and is oscillating over 0.8720 currently.
Karen Jones, chief analyst explained that USD/CHF has slipped through the 2012-2014 support line at 0.8740 and thus targets the 0.8568 October 2011 low. “Immediate downside pressure will be maintained while the currency pair trades below the 0.8805 March 11 high. Further resistance comes in around the .8831 mid December low and along the downtrend line at 0.8882. This will need to be overcome in order to alleviate immediate downside pressure”.
USD/CHF Levels
The 20 DMA is 0.8855, the 50 DMA is 0.8959 and the 200 DMA is 0.9131. RSI (14) reads 36.47. Resistances are 0.8598, 0.8612, 0.8651 and 0.8706. Spot is 0.8716, 0.8749, 0.8766, 0.8788 and 0.8806.
Karen Jones, chief analyst explained that USD/CHF has slipped through the 2012-2014 support line at 0.8740 and thus targets the 0.8568 October 2011 low. “Immediate downside pressure will be maintained while the currency pair trades below the 0.8805 March 11 high. Further resistance comes in around the .8831 mid December low and along the downtrend line at 0.8882. This will need to be overcome in order to alleviate immediate downside pressure”.
USD/CHF Levels
The 20 DMA is 0.8855, the 50 DMA is 0.8959 and the 200 DMA is 0.9131. RSI (14) reads 36.47. Resistances are 0.8598, 0.8612, 0.8651 and 0.8706. Spot is 0.8716, 0.8749, 0.8766, 0.8788 and 0.8806.