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Forex pairs in this Article » USD/CHF
FXStreet (Guatemala) - The US new home sales rose 9.6% to 468,000 annual rate and these were much stronger than expected. The dollar is firmer across the board.

USD/CHF had been stuck in a tight range and trading on the side-lines in the overall bearish trend. Karen Jones, chief analyst at Commerzbank, explained the downside elements technically and what is required for advances towards the 3rd Feb high, “We remain unable to rule out stabs down to the 0.8832/00 December lows. From here we should see the market recover. The market will need to overcome its short term downtrend, this is located today at 0.8956, in order to alleviate downside pressure and re- target 0.9038 then 0.9082 (3rd February high) and only above 0.9082 will retarget the 0.9164 Fibonacci retracement.

USD/CHF Levels

The 20 DMA is 0.8957, the 50 DMA is 0.8984 and the 200 DMA is 0.9175. RSI (14) reads 75.13. Supports are 0.8766, 0.8800, 0.8830, 0.8850, 0.8891 and 0.8915. Spot is 0.8924. Resistance comes 0.8949.
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