FX.co ★ Technical analysis of USD/CHF for February 24, 2014

USD/CHF is trading at the level of 0.8873. The pair has been trying hard to break the 38.2% retracement level for the last couple of years. Its breakout from a wedge sign a good upmove coming in the future. We recommend buying USD/CHF in three parts. Cmp at 0.8860-0.8830 with sl at 0.8800. RSI stood below the 40.0 levels in the weekly, daily and hourly charts. It indicates limited downfall. In the Asian trading session, the pair is trading at the level of 0.8871.

S1 0.8860 R1 0.8883

S2 0.8800 R2 0.8887

The pair is consolidating near the 0.8860 levels in the hourly and daily charts.