To receive Ilya’s analysis directly via email, please SIGN UP HERE
- USD/CHF Technical Strategy: Flat
- Support:0.9054, 0.9017, 0.8957
- Resistance: 0.9110, 0.9189, 0.9268
The US Dollar is in consolidation mode below the 0.91 figure against the Swiss Franc but negative RSI divergence warns a move downward may be ahead. A daily close below support at 0.9054, the 14.6% Fibonacci retracement, exposes the 23.6% level at 0.9017. Alternatively, a move above the 76.4% Fib expansion at 0.9110 opens the door for a test of the 100% barrier at 0.9189.
Positioning is inconclusive at this point, with prices sitting in the middle of their recent range without showing clear-cut confirmation of a bearish reversal or a defined invalidation of its possibility. We will continue to stand aside until greater clarity emerges.
Add these technical levels directly to your charts with our Support/Resistance Wizard app!
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for DailyFX.com