FX.co ★ Fxcaptain | USD/CHF

T E C H N I C A L _ A N A L Y S I S U S D / C H F Good morning to every one of my colleagues! I want to assess the price movement of USD/CHF based on technical and fundamentals. Let’s discuss today’s possible market movement. USD/CHF is trading at 0.9082 at the time of writing. Currently, the US dollar is trading above 108.90. If the US dollar sees further weakness, then the chances of USD/CHF strengthening will decrease. We can say that bears are leading the trend and sooner we can see USD/CHF below the 0.9009 price range. The declining momentum has started, as seen by the Relative Strength Index (RSI) fluctuating in the bearish region of 35.00-40.00 . At the same time, the moving average convergence divergence (MACD) is trading below its red trigger midline and pointing to the southern zone . The 20 and 50 EMA indicators also show signs of correction, suggesting that the price may continue moving south after some consolidation .

It is possible that we will see minor resistance at 0.9136 . Current market conditions suggest that USD/CHF prices continue upward, with the potential to test the 0.9432 horizontal level which is the 2nd level of resistance. After that, it has the potential to move up aiming the 3 rd level of resistance at 0.9876. On the other hand, it is possible that we will see minor support at 0.9062 . There is a possibility of a decline in the price, with the bears pushing it toward the 0.9009 and 0.8342 levels . Please don't be greedy by using big lot sizes in USD/CHF trading. USD/CHF is risky for trading. The indicators used in the chart: MACD indicator: RSI indicator period 14: 50-day exponential moving average color Orange: 20-day exponential moving average color Magenta: