USD / CHF: Dollar resumed growth
Current trend
On Tuesday, the pair USD / CHF has resumed its growth after a small
correction of the US currency against major rivals. As a result, the pair
reached new highs since the end of March this year.
One of the reasons for such growth, in addition to a number of positive
macroeconomic publications in the US, we can distinguish a very sudden decision
Bank of China on the yuan devaluation. As a result of these actions the national currency
China fell to three-year lows.
Support and resistance levels
The indicator "Bollinger Bands" on the daily chart
It continues to grow, and the price range is expanding. Indicator signal formed
for sale due to the price breaks the upper range limit. MACD
turns down, forming a sell signal. Stochastic leaves the area
overbought, also signaling the sale.
Support levels: 0.9820, 0.9800 (at least 11 of August),
0.9769, 0.97717, 0.9649, 0.9597, 0.9559, 0.9524 (July 23 low), 0.9460,
0.9400, 0.9329 (July 10 low).
Resistance levels: 0.9862 (local maximum), 0.9900
(Psychologically important level, the high of August 11), 0.9930, 1.0000 (psychological
important level).
Short positions can be opened in case of breakdown to 0.9800 level
targets 0.9717, 0.9700 and stop-loss at the level of 0.9862.
You can open long position in the breakdown level of 0.9900 (at
support for the Indicators) to 1.0000 and stop loss at around
0.9820.
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