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22 Mar 2013
Forex: USD/CHF bouncing off lows, around 0.9440
FXstreet.com (Barcelona) - The benchmark cross for the risk aversion is now picking up pace on Friday after dipping to the proximities of 0.9420/25
According to I.Spivak, Currency Strategist at DailyFX, “Prices moved lower as expected after putting in a Bearish Dark Cloud Cover candlestick patter. Initial support has been found at 0.9382, a former resistance level, with prices now retesting a broken rising trend line now at 0.9516. A push above that aims for the March 14 high at 0.9529”.
At the moment, USD/CHF is down 0.31% at 0.9440 with the immediate support at 0.9418 (MA200d) ahead of 0.9413 (low Mar.20) and then 0.9390 (low Mar.18).
On the opposite side, a break above 0.9491 (high Mar.19) would target 0.9556 (Upper Bollinger) and finally 0.9567 (high Mar.14).
According to I.Spivak, Currency Strategist at DailyFX, “Prices moved lower as expected after putting in a Bearish Dark Cloud Cover candlestick patter. Initial support has been found at 0.9382, a former resistance level, with prices now retesting a broken rising trend line now at 0.9516. A push above that aims for the March 14 high at 0.9529”.
At the moment, USD/CHF is down 0.31% at 0.9440 with the immediate support at 0.9418 (MA200d) ahead of 0.9413 (low Mar.20) and then 0.9390 (low Mar.18).
On the opposite side, a break above 0.9491 (high Mar.19) would target 0.9556 (Upper Bollinger) and finally 0.9567 (high Mar.14).