Technical analysis of USD/CHF for April 08, 2014




The pair is in an uptrend at 0.87 levels. The pair made a high at 0.8952 on Friday. Currently, the pair is trading at 0.8876 in an Aisa's trading session. The pair is facing a strong resistance at 0.88788 (50SMA); above this, 0.8928 is a strong resistance level. Below 50SMA, 0.8866 and 0.8853 are the small support levels. Until the pair trades below the 50SMA, it looks weak. RSI is giving a buying signal. The pair is looking for a strong base to change its direction upwards. After a day close above the 0.8878 level, fresh up move will be intact for 0.8928 first and 0.8952. We will see new high (0.90) when the pair closes above the 0.8928 level. On the down side, the levels of 0.8815, 0.8787, and 0.8699 are the support levels.

In the H4 chart, the pair is making a lower low and higher highs formation. Currently, it is looking for support levels. RSI is not favoring longs. The support levels exist at 0.8871 and 0.8859. In case of a break below these levels, it will fall to 0.884, 0.8820, and 0.8785 levels. On the upside, if the pair holds the 0.8871 and 0.8859 levels intradaily, it will fly up to 0.8889 and 0.8930 levels.


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