USD/CHF Quiet, Stocks Rise, Oil Rallies
Ruben Cabello | Apr 08, 2016 08:40AM ET
USD/CHF Open 0.9560 High 0.9583 Low 0.9520 Close 0.9551
On Thursday USD/CHF increased with 60 pips. The European currency appreciated from 0.9520 to 0.9581 yesterday, matching the positive money flow sentiment at above +4%, closing the day at 0.9551. This morning the dollar ascended slightly further against the Swiss franc, reaching 0.9583.
On the 1 hour chart the downward channel is slowing down, while on the 3 hour chart the small angle downward channel looks good. Break above the nearest resistance and today's top at 0.9583 may lead to further lifting of the dollar. Going below yesterday's bottom and first support at 0.9520, however, could diminish the currency pair more, towards next objective downwards 0.9415.
Quotes are moving above the even 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and hesitant, MACD is positive and calm, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 0.9583 0.9688 0.9800
Technical support levels: 0.9520 0.9415 0.9309
Today +11 pips gained on USD/CHF from the following signal:
5:30 GMT+1 Sell USD/CHF at 0.9566 SL 0.9592 TP 0.9516, exit given at 9:52 GMT+1.
Total today +70. Have a great day!
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