Forex: USD/CHF collapses to 0.9200 level
Forex pairs in this Article »
USD/CHF
FXstreet.com (Barcelona) - The USDCHF has seesawed back and forth sporadically following the recent ECB announcements and rate decisions. After bottoming out at 0.9215, the pair spiked 20 pips before collapsing towards the 0.9200 level where it resides currently. In the EMU, the Interest Rate remained at 0.75%, which was to be expected, though the pair is certainly trying to stabilize in these moments.
At the time of writing, the USDCHF has incurred a loss of -0.57% Thursday. According to Mark De La Paz, an analyst at FX Instructor, the next support lies at 0.9196. Conversely, a prolonged thrust above the 0.9280 level will trigger resistive structures at 0.9298, and ultimately 0.9322.
"We have a low level bullish reversal, Bullish Harami in the USDCHF charts. The market is generally bearish while the pattern is just under a moderate resistance at 0.9231. We consider buys on a close above 0.9231 for a push towards the 0.9252 handle." De La Paz suggests.
At the time of writing, the USDCHF has incurred a loss of -0.57% Thursday. According to Mark De La Paz, an analyst at FX Instructor, the next support lies at 0.9196. Conversely, a prolonged thrust above the 0.9280 level will trigger resistive structures at 0.9298, and ultimately 0.9322.
"We have a low level bullish reversal, Bullish Harami in the USDCHF charts. The market is generally bearish while the pattern is just under a moderate resistance at 0.9231. We consider buys on a close above 0.9231 for a push towards the 0.9252 handle." De La Paz suggests.
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