USD/CHF: Pair In Flat
Mayzus | Mar 16, 2016 10:49AM ET
Yesterday the USD/CHF showed flat dynamics and closed near the opening levels.
Market volatility remains low prior to the US Fed monetary policy meeting that is due today. Markets do not expect the interest rate to be increased at the today’s meeting. Closer attention should be paid to regulator’s commentaries regarding its further plans. Due to quite strong macroeconomic statistics that come out in the US lately, comments by the regulator could be quite positive that would strengthen the US Dollar.
Bollinger Bands® on the daily chart is moving down while the price range is narrowing. MACD is growing and giving a very weak sell signal. Stochastic left the oversold zone and growing as well.
The indicators recommend waiting for clearer trading signals.
- Support levels: 0.9847 (local low), 0.9800 (11 March low), 0.9755, 0.9717, 0.9693, 0.9659 (11 February low), 0.9600.
- Resistance levels: 0.9877 (local high), 0.9900, 0.9920, 0.9940, 0.9971, 1.0000 (psychologically important level), 1.0036 (29 February high), 1.0067, 1.0100 (10 March high).
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