1. Hello Guest Click here to check FX Binary Point Financial Directory

USD/CHF testing September highs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 26, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - USD/CHF is rising for the fourth day in a row and currently is trading at 0.9814/18, slightly below September highs. The pair still holds a bullish tone and is standing at a key technical level.

    USD/CHF and 0.9800

    Today the pair peaked at 0.9838, hitting the strongest level since September 26 and then pulled back modestly. It found support at 0.9790, above the 20-hour MA, that become a relevant intraday support.

    If the pair is able to post a daily close above 0.9800 it would be the highest close since August 15 and it could open the doors for further gains. On the upside, resistance might lie at 0.9845 (September high) and then attention would turn to October highs located around 0.9900.

    USD/CHF still holds a bullish tone but if it is unable to hold above 0.9800 it could signal a possible short term top triggering a correction. Support levels might lie at 0.9800 (Oct 23 high), 0.9755 (daily low) and 0.9710.
    For more information, read our latest forex news.

Share This Page