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The Swiss franc got stuck in a narrow corridor

The currency pair USD/CHF is still being traded in a narrow price corridor. The points of intraday reversals are located on the following marks: (S1) 0,9728; (P) 0,9747; (R1) 0,9768.

The neutral nature of quotations' movement will proceed up to the overcoming of support and resistance levels, which is not that simple to achieve at the current fluctuation range.
In particular, the continuation of consistent falling of the currency pair rate is expected only after passing lower than the level of 0,9660. In this case the shift USD/CHF fluctuations' range from 1.0091-0.9496 to 1.0255-0.9660 will occur.

The mark 0.9475 is becoming the key support.

On the other hand, the consistent overcoming of the resistance level of 0.9802 will become the signal of the end of the quotations decrease, which has begun from 1.0091. Until the resistance remains untouched, the forecast for the pair will remain bearish.

Nevertheless, the falling of USD/CHF currency rate from 1.0327 is considered the correctional movement within the general ascending trend. The renewal of the growth is prevented by the inability of the currency pair to overcome the established maxima.

Deeper fall of the quotations is expected in case of the breakout of key support 0.9475.

 


https://nordhillcapital.com/ru

 

 

 

 

 

 

Monday, 28 Mar, 2016 / 5:48

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Source : http://goo.gl/gqC125

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