20 Mar 2014
USD/CHF facing headwinds ahead of 0.89 handle
FXStreet (Guatemala) - USD/CHF has dropped towards the 0.8820 support after posting gains on the 0.88 handle and reaching a high of 0.8870 in north America.
Karen Jones, chief analyst at Commerzbank explained that USD/CHF had rallied higher to reach the downtrend line at 0.8833. “This will need to be overcome in order to really instigate some upside interest. For now we would allow for a small dip back, but look for dips lower to hold .0.8780/60. A close above the downtrend will target initially the 0.8927/30 26th February high and eventually the 200 day ma at 0.9115”.
USD/CHF Levels
The 20 DMA is 0.8816, the 50 DMA is 0.8928 and the 200 DMA is 0.9115. RSI (14) reads 60.49. Supports are ascending from 0.8651, 0.8698, 0.8715 and 0.8747. Spot is 0.8830 while resistances are 0.8841, 0.8859, 0.8883 and 0.8895.
Karen Jones, chief analyst at Commerzbank explained that USD/CHF had rallied higher to reach the downtrend line at 0.8833. “This will need to be overcome in order to really instigate some upside interest. For now we would allow for a small dip back, but look for dips lower to hold .0.8780/60. A close above the downtrend will target initially the 0.8927/30 26th February high and eventually the 200 day ma at 0.9115”.
USD/CHF Levels
The 20 DMA is 0.8816, the 50 DMA is 0.8928 and the 200 DMA is 0.9115. RSI (14) reads 60.49. Supports are ascending from 0.8651, 0.8698, 0.8715 and 0.8747. Spot is 0.8830 while resistances are 0.8841, 0.8859, 0.8883 and 0.8895.