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Thread: FBS.com - Daily/Weekly Analysis
04-18-2012, 06:57 PM #11
"USD/CHF: technical comments"(2012-04-18)
USD/CHF: technical comments
Wednesday, April 18, 2012 - 13:45
The currency pair USD/CHF is moving sideways since the beginning of January, creating a triangle. The cross is clamped between the 50- and 100-day MAs. Moreover, on a daily Ichimoku chart Kijun-sen and Tenkan-sen are lying horizontally in the Cloud, also pointing at a flat market. The trend may be breached both on the upside and on the downside. Breakthrough the levels 0.9330 and 0.8930 will confirm the reversal.
The pair USD/CHF climbed to 0.9197 today, finding the nearest resistance at 0.9229 (100-day MA), 0.9251 (high Apr.16) and 0.9254 (high Mar.16). Support lies at 0.9120 (21-day MA), 0.9092 (low Apr.13) and 0.9050 (hourly high Apr.3).
As for the news, Thomas Jordan was named as permanent president of the Swiss Central Bank today. He became interim SNB chairman on Jan. 9 when his predecessor Philipp Hildebrand resigned after a trading scandal involving his wife.
Swiss ZEW economic expectations index released today indicates optimism (2.1 in March vs. 0.0 in Feb.).
Chart. Daily USD/CHF
Comment here http://www.fbs.com/analytics/1970-01...nical-comments
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