The market’s mood was
elevated few minutes before the end of the last week because FBI decided to
re-open the investigation into Hillary Clinton’s email case. The time nears to
the elections and this is of huge importance to forex markets.
The USD/CHF pair suffered
sharp losses on Friday, having in mind that during the whole past week had
downward momentum. The pair bottomed at 0.9857 and formed a falling star
pattern, as seen on the daily chart.
Currently the pair is
trading around 0.9892 and bulls are seen attempting to conquer 0.9900 level.
Anyway some of Friday’s losses weer partly reversed.
RSI is currently placed
withing the mid area, around 53%. Stochastic is showing oversold market and is
displaying bearish momentum.
The key resistance is
placed now at 1.0000 and in case the pair could push above 0.9900 handle,
buying interest might follow and lift the bulls’ desire towards this round
number.
Looking to the
downside, the outlook is for testing the 200-day EMA, currently located at
0.9780. First support is seen at 0.9915, which if broken could slide the pair
to neutral area with testing 0.9950 or higher.
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