USD/CHF: Consolidates around the 0.9800 area

30 / 06 / 2016 | Analisi tecnica
European Session
The USD/CHF pair has been trading sideways since the 28th of June, with the price ranging between the levels of 0.9764 and 0.9838.

The pair consolidated around 0.9805 during the course of the day on Wednesday. Today, the major is extending its consolidation move and is currently trading at 0.9808.

Regardless of some improvement in risk sentiment, resulting in a weaker dollar that helped most pairs to recover some ground, the USD/CHF pair is seen consolidating on the possibility of an intervention from the Swiss National Bank in the event of a sharp appreciation of the Swiss franc.  

Immediate resistance lines up at 0.9838, which if conquered could open room towards 0.9903 and 0.9954 in extension.

Conversely, in the event that the pair breaks below 0.9764, the pair could find support at 0.9745 and 0.9717 respectively.  



Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
 

Trading. Inspired. INIZIA A FARE TRADING DEMO SENZA RISCHI

Avviso di rischio:i CFD sono strumenti complessi e presentano un elevato rischio di perdita anche rapida del capitale, a causa della leva finanziaria. Il 66.36% dei conti degli investitori al dettaglio risulta essere in perdita nella negoziazione di CFD con AFX Markets Ltd. Dovresti valutare attentamente se comprendi il funzionamento dei CFD e se puoi permetterti di correre il rischio di perdere il tuo capitale.

The Financial Conduct Authority has notified AFX Markets Ltd, FRN: 560872 that must close all open trading positions held by it, whether on its own account or on accounts of its clients by no later than 7 August 2019. For further details click here.
INIZIA A FARE TRADING DEMO SENZA RISCHI