USD/CHF Analysis (2015.11.04)
Source: Mayzus Forex Broker(Review and Forex Cashback up to 85%)
The USD/CHF pair continues growing in the beginning of the week and reaching its local highs near the psychologically important level of 1.0000.On Monday strong data on the SVME – Purchasing Managers’ Index came out in Switzerland that, however, did not allow the CHF to continue its upward momentum. In October, the index grew from 49.5 to 50.7 points, against forecasted 50.2 points. Later, moderately strong data from the US resumed the previous upward trend in the pair.
USD/CHF Chart 1
Bollinger Bands on the daily chart continues growing, while the price range is narrowing. MACD is trying to turn up again and keeping a buy signal. Stochastic is turning horizontally as it left the overbought zone few days ago.
The indicators recommend waiting for clearer trading signals.
Support levels: 0.9900, 0.9862, 0.9842 (минимумы 2 November lows), 0.9822, 0.9800, 0.9774, 0.9739, 0.9717.
Resistance levels: 0.9930 (local high), 0.9956 (28 October high), 1.0000 (psychologically important level).
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