USD/CHF Facing Resistance At 200-day Moving Average

November 13, 2012 in Forex Analysis

USD/CHF had broken the barrier of 200-day moving average support on September 11th. Before that the currency pair had been over this level since May 2nd,2012 i.e. for four and a half months. After being under this resistance the pair is testing this resistance now after a gap of approximately 2 months.

USD/CHF Daily chart

USD/CHF testing 200 day moving average resistance

USD/CHF – What to Expect:

The combined force of two resistance namely 200-day MA and the psychological 0.9500 level is present at the current level. It may keep the currency pair in some sideways mode for some time and even bring some consolidation but till the supports first near 0.9465 and then 55-day EMA, now near 0.9410, hold, the currency pair should try to test 0.9600 level.

 

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