FXstreet.com (Barcelona) - USD/CHF has fallen around 120 pips from 1.1675, intra-day high, to 1.1552, intraday low, and test the 1.1550 support as MA 200 level. Currently the pair is trading around 1.1575/85 after falling 0.50% so far today from opening price at 1.1638.
Better than expected earnings results for Credit Suisse and a good ZEW expectations report could trigger momentum to CHF.
Yesterday the pair fell 0.37% from 1.1681 opening price, reaching 1.1722 as maximum and 1.1600 as minimum, to close the day at 1.1638.
According to Igor Kulaga, Analyst at Forex Ltd, USD/CHF confirms its key supports: The estimated test of the key supports has been confirmed, but the relative growth of bear's activity demonstrated by the OsMA indicator that took place against the background of the tendency of bull's activity reduction was not the positive moment for the immediate implementation of the purchasing positions that were planned. Therefore, without having any planning priorities, we suppose that the rate within the Ichimoku cloud will probably drop to the 1,1580/1,1600 levels, there it is recommended to evaluate the development of the activity of both parties in accordance with the charts of a shorter time interval. As for the short-term buys, on condition of the formation of topping signals, the objectives will be 1,1640/60, 1,1700/20, 1,1720/40 and (or) further break-out variant up to 1,1780/1,1800, 1,1840/60, 1,1900/40. The alternative for sales will be below 1,1500 with the targets of 1,1440/60, 1,1380/1,1400, 1,1320/40 .
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