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11 Mar 2014
USD/CHF rejected on bullish attempts
FXStreet (Guatemala) - USD/CHF has been shunned at 0.8800 and is back onto the supporting line of the sideways channel around 0.8780.
USD/CHF had been trying to bounce off the 2012-2014 support line at 0.8751 which represents key support. Karen Jones, chief analyst at Commerzbank explained, “Ideally we should see the currency pair stabilise around it but it is still in danger of giving way. Should the market stabilise here, a close above the downtrend line at 0.8897 is needed to alleviate immediate downside pressure. A daily chart close below Friday’s low at 0.8756 will target the 0.8568 October 2011 low”.
USD/CHF Levels
The 20 DMA is 0.8879, the 50 DMA is 0.8965 and the 200 DMA is 0.9138. RSI (14) reads 43.49. Supports are ascending from 0.8612, 0.8651, 0.8706 and 0.8756. Spot is 0.87879. Resistances are 0.8793, 0.8816, 0.8841 and 0.8861.
USD/CHF had been trying to bounce off the 2012-2014 support line at 0.8751 which represents key support. Karen Jones, chief analyst at Commerzbank explained, “Ideally we should see the currency pair stabilise around it but it is still in danger of giving way. Should the market stabilise here, a close above the downtrend line at 0.8897 is needed to alleviate immediate downside pressure. A daily chart close below Friday’s low at 0.8756 will target the 0.8568 October 2011 low”.
USD/CHF Levels
The 20 DMA is 0.8879, the 50 DMA is 0.8965 and the 200 DMA is 0.9138. RSI (14) reads 43.49. Supports are ascending from 0.8612, 0.8651, 0.8706 and 0.8756. Spot is 0.87879. Resistances are 0.8793, 0.8816, 0.8841 and 0.8861.