USDCHF And The Resistances Ahead

June 23, 2013 in Chart Alert

USD/CHF had broken below some important supports as we had mentioned in this previous chart alert. The recent jump from 0.9130 was strong but we need keep an eye on the possible resistances ahead.

USD/CHF and moving averages.

USD/CHF testing 200day moving average

The current price action is struggling against the 200-day moving average. The current 200-day moving average is 0.9343. Even if a decisive break over this takes place then the 55-day EMA resistance is just over it. The current 55-day EMA is at 0.9407. Another point to be noted is that the previous strong resistance of 0.9418 would also come into picture here.

USD/CHF and retracement levels

USD/CHF retracements

Interestingly the resistance of the 38.2% retracement of the fall from 0.9790 to 0.9130 also falls in this range. The above chart indicates the struggle below the 38.2% retracement level which is at 0.9382 i.e. almost at the middle of the 200-day moving average and 55-day EMA resistances.

Please check all the USD/CHF chart alerts here and also chart alerts for other currency pairs also.

Please check the USD/CHF’s weekly predictions and also USD/CHF technical analysis which is updated daily.

Please write your comments/suggestions in the comments box below.

Comments are closed.