- The USD/CHF has slipped sharply lower, hitting low as 1.0050 in the early American hours after ISM Non-Manufacturing PMI printed negative figures at 53.5 against forecasted figures at 55.1, despite the sharp decline towards lower levels, the pair has managed to remain above 1.0050 handle after finding support at 1.0050 level.
- Currently the pair is trading around 1.0070 levels ,it is set to reach 1.0100 and 1.150 levels in the short term.
- Technically, the 55, 30, 20 MA are pointing towards upwards, The Relative Strength index (RSI) is neutral at 50. Overall the technical indicators are indicating bullish trend for this pair.
- To the upside, the strong resistance can be seen at 1.0160, a break above this level would expose the cable to next resistance level at 1.0200 levels.
- To the downside strong support can be seen at 1.0050, a break below at this level will open the door towards 1.0000 levels.Recommendation: Go long around 1.0050/1.0070 targets around 1.0150/1.0200, SL 0.9980Support levels: 1.0050, 0.9990, 0.9960Resistance levels: 1.0100 1.0160 1.0200
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