Thursday , 28 March 2024

USDCHF keeps supported by 200-hour SMA

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.

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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

About Reza File

To contact the editor responsible for this story : Reza Aswin at PT. ABC Future Indonesia email : rz_aswin@yahoo.com

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