USDCHF-14:40 (CET)

By @ibtimes on

The pair is trading lower and getting closer to the support at 1.0120 francs per dollar. The pair is breaking the lower band of Bollinger, which could indicate a correction to the middle band. The RSI is at 40 points, after being near 30. If the trend reverts, the 50-day MA could consolidate with the price.

Since the short movement started on October 2nd, the pair is falling 330 pips so far. Remember that the Swiss National Bank(SNB) left clear that it's uncomfortable with the Swiss franc strength. Thus, it's predictable that they will intervene verbally.

Join the Discussion