ActionForex.com
Feb 24 19:16 GMT

Sponsors

Forex Expos

USD/CHF Mid-Day Outlook Print E-mail
USDCHF Outlook | Written by ActionForex.com | Feb 17 17 13:04 GMT

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9938; (P) 0.9996; (R1) 1.0027; More.....

Intraday bias in USD/CHF remains neutral for consolidation below 1.0118 temporary top. Near term outlook stays cautiously bullish as long as 0.9929 minor support holds. Fall from 1.0342 could have finished at 0.9860 already. Above 1.0118 will turn bias back to the upside for retesting 1.0342. However, break of 0.9929 will likely extend the decline from 1.0342 through 0.9860 low.

In the bigger picture, prior rejection from 1.0327 resistance argues that USD/CHF is staying in a medium term sideway pattern. In any case, decisive break of 1.0342 resistance is needed to confirm underlying strength. Otherwise, we'll stay neutral in the pair first. In case of another fall, we'd expect strong support from 0.9443/9548 support zone. Meanwhile firm break of 1.0342 will target 38.2% retracement of 1.8305 to 0.7065 at 1.1359.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

 

Latest in Technical Outlook

Facebook MySpace Twitter Digg Delicious Google Bookmarks 

Forex Brokers

Action Insight Newsletter
ActionForex.com © 2017 All rights reserved.