Monday, February 28, 2011

USD / CHF. Currency drifts in new historic lows

Exchange rate still lies below the moving averages with periods of 34, 55, 144 and 89, which are directed downward and points to the continued bearish sentiment, as well as the next resistance levels are 0.9350, 0.9440, 0.9490 and 0.9520.
MACD histogram is located in the negative zone, but above its signal line, continues to gradually rise, and thus sends a signal to buy USD / CHF.
Stochastic Oscillator is in the neutral zone and generates a similar signal as the% K line rises above the% D.
Despite two clear signals, as evidence that the forex market in a given currency pair could worsen rising correctional movement, we need to wait for the breakdown of the resistance level of 0.9330, which will open the path to levels of 0.9370, 0.9400 and 0.9430.
Resistance levels: 0.9290/0.9300, 0.9330, 0.9370, 0.9400, 0.9430, 0.9450
Current Price: 0.9273
Support levels: 0.9260, 0.9240, 0.9225, 0.9200, 0.9175, 0.9150, 0.9120/00

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