Written by FXTT Monday, 19 September 2011 07:16
USDCHF–Intraday Technical Analysis–Sep 19, 2011-07.00 GMT
TECHNICAL ANALYSIS REVIEW
USDCHF opened with up gap 43 points this morning. This suggests that USDCHF keeping potential upward move. USDCHF has been trading sideways between 0.8927 and 0.8647 for the last five days. Obviously USDCHF is in a consolidation phase after performing upward move after USDCHF printing the all time low at 0.7067.
Previous Week
Open |
High |
Low |
Close |
Range |
0.8875 |
0.8927 |
0.8647 |
0.8762 |
280 |
Previous Day
Open |
High |
Low |
Close |
Range |
0.8692 |
0.8776 |
0.8685 |
0.8762 |
91 |
USDCHF HOURLY CHART
usdchf-keeps-supported-by-200-hour-sma
TECHNICAL ANALYSIS OUTLOOK
On the hourly chart we can see that USDCHF trades above the 200-hour simple moving average which is currently at 0.8745. We can also see how the 200-hour simple moving average acts as a good support for USDCHF since last week.
Therefore, as long as USDCHF maintains trading above the moving average, we view USDCHF will continue trading sideways with upward bias. Only a break below 0.8647 will lead USDCHF to continue going south. Meanwhile, key resistance is at 0.8927 – 0.8946 zone.
Intraday Market Condition: | Non Trending |
Intraday Market Direction : | Sideways |
Support 1: | 0.8746 | Resistance 1: | 0.8880 |
Support 2: | 0.8647 | Resistance 2: | 0.8946 |
Support 3: | 0.8537 | Resistance 3: | 0.9000 |
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To contact the editor responsible for this story: Reza at PT. ABC Future Indonesia and FXTT Analysis Dept.
email: rezafile@ymail.com