USD/CHF - Dollar Swiss Franc, European Session - 20/07/09

By @ibtimes on

1,0741. There is an horizontal range between 1,0725 and 1,0800. Support and resistance are given by Bollinger bands. USD CHF moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Bollinger bands are flat. ForexTrend 1H, daily (Mataf Trend Indicator) is in a bearish configuration. daily ForexSto (Modified Stochastic) indicate a bearish pressure on USD CHF. The price should continue to move in Bollinger bands. The price should find a support above 1,0720 (21 pips). If the support breaks then the target will be 1,0600 (141 pips).

Resistances
1,0790 - 1,0830
Supports
1,0725 - 1,0690

tags: Forex, usdchf
author: Arnaud Jeulin
Mataf.net offers technical analysis, forex news and currency converter.

Join the Discussion