Technical analysis of USD/CHF for November 30, 2016

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USD/CHF is expected to trade in a lower range. Technically, the pair is still under pressure below its key horizontal resistance at 1.0150. The relative strength index is bearish and below its neutrality level at 50. The U.S. dollar jumped upon the release of the upbeat 3Q GDP readings. However, the rally proved unsustainable as the ICE U.S. Dollar Index reached a session-high of 101.64 before heading downward to close at 100.93, down 0.4% on day.

Therefore, as long as 1.0155 holds on the upside, look for a further drop toward 1.0100 and 1.0075 in extension.

Resistance levels: 1.0170, 1.0190, 1.0220

Support levels: 1.0100, 1.0075, 1.0040

The material has been provided by InstaForex Company – www.instaforex.com

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