10 Apr 2014
USD/CHF is still on the way lower targeting March lows
FXStreet (Moscow) - Currently, USD/CHF is trading at 0.8775, down -0.21% on the day, having posted a daily high at 0.8808 and low at 0.8770.
The Swissy is unstoppable
The pair is still on the move lower, as risk aversive mood is still on tap. Absence of fundamental catalysts during European session didn’t prevent the pair from sliding lower with the next target at 0.8758 support level. The FXStreet OB/OS Index is reflecting oversold hourly conditions, while the FXStreet Trend Index is slightly bearish. Currently RSI is at 35.62, up from the last hourly print at 27.31, with ADX at 38.35, up from its previous close at 16.69. Daily RSI sits at 42.86, in neutral territory. Looking to momentum indicators, the hourly 200 SMA is currently at 0.8822, down from the last close at 0.8860 and declining. Over the past 20 days, the exponential average closing price is 0.8845, and ranging.
What price levels and patterns have to be considered?
Spot is presently trading at 0.8777, and next resistance can be seen at 0.8788 (Yesterday's Low), 0.8796 (Daily Open), 0.8796 (Weekly Low), 0.8798 (Hourly 20 EMA) and 0.8808 (Daily High). Next support to the downside can be found at 0.8774 (Daily Classic S1), 0.8770 (Daily Low), 0.8758 (Weekly Classic S2), 0.8751 (Daily Classic S2) and 0.8723 (Monthly Low). Regarding candlestick formations, we can see Doji formation on the 1-hour .
The Swissy is unstoppable
The pair is still on the move lower, as risk aversive mood is still on tap. Absence of fundamental catalysts during European session didn’t prevent the pair from sliding lower with the next target at 0.8758 support level. The FXStreet OB/OS Index is reflecting oversold hourly conditions, while the FXStreet Trend Index is slightly bearish. Currently RSI is at 35.62, up from the last hourly print at 27.31, with ADX at 38.35, up from its previous close at 16.69. Daily RSI sits at 42.86, in neutral territory. Looking to momentum indicators, the hourly 200 SMA is currently at 0.8822, down from the last close at 0.8860 and declining. Over the past 20 days, the exponential average closing price is 0.8845, and ranging.
What price levels and patterns have to be considered?
Spot is presently trading at 0.8777, and next resistance can be seen at 0.8788 (Yesterday's Low), 0.8796 (Daily Open), 0.8796 (Weekly Low), 0.8798 (Hourly 20 EMA) and 0.8808 (Daily High). Next support to the downside can be found at 0.8774 (Daily Classic S1), 0.8770 (Daily Low), 0.8758 (Weekly Classic S2), 0.8751 (Daily Classic S2) and 0.8723 (Monthly Low). Regarding candlestick formations, we can see Doji formation on the 1-hour .