LiteForex_Official

USD/CHF: dollar is being corrected

OANDA:USDCHF   美元/瑞郎
12 0 1
Current trend

Dollar is showing corrective growth against Swiss franc             during today’s trading compensating its fall last Friday and partially regaining positions lost last week. The instrument is supported by technical factors, while there are still few fundamental terms for the increase of USD.

Friday statistics from the USA showed a decrease in business activity down to July rates, therefore the instrument was not corrected upwards. In turn, investors will pay attention to rapid growth of industrial output in Switzerland. In Q3 2017 it grew by 8.6% QoQ after rising by 3.2% in Q2. In year-on-year terms the growth made up +5.5% after 1.8% in the previous quarter.

Support and resistance

Bollinger Bands in D1 chart show stable decrease. The price range is widening from below. MACD indicator is reducing preserving a quite stable sell signal (the histogram is below the signal line). Stochastic has reached minimal values and tries to reverse upwards.

Resistance levels: 0.9800, 0.9825, 0.9843, 0.9873.

Support levels: 0.9779, 0.9750, 0.9732, 0.9700.

Trading tips

Long positions may be opened after breaking through the level of 0.9825 with target at 0.9900 and stop-loss at 0.9790. The period of implementation is 2-3 days.

Breaking down the level of 0.9779 may be a signal for further sales with target at 0.9700 and stop-loss at 0.9815. The period of implementation is 2-3 days.
More analytic from LiteForex:
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