The
USD/CHF pair slipped below the parity line having lost around 80 pips. The US
Dollar is seen weaker today against its major rivals following the release of
weak economic data in the United Stated and FOMC’s dovish tone. The pair tested
the levels around the 200-day SMA, which is located at 1.0000 – 0.9995, but
later corrected and the current market price is 1.0019.
On
the four-hour time frame the price has crossed to below the 20-day SMA, which
is currently staying flat at around 1.0068 and has lost directional strength.
RSI and stochastic are showing strong bearish momentum and had moved below
their mid-lines.
In case of closing below the 200-day SMA (1.0000 – 0.9995), the pair will
poised to extend its downward slope towards 0.9960. Looking to the upside first
resistance is seen at 1.0085 (today’s high) and second at 1.0100 (weekly’s
high).
No comments:
Post a Comment