Technical analysis of USD/CHF for June 30, 2017

Overview:

• The USD/CHF pair:
• The current price is moving around the area of 0.9590 and 0.9570. The USD/CHF pair continues moving downwards from the level of 0.9590. Yesterday, the pair dropped from the level of 0.9590 to the bottom around 0.9540. Today, the first resistance level is seen at 0.9590 followed by 0.9660, while daily support 1 is seen at 0.9545. According to the previous events, the USD/CHF pair is still moving between the levels of 0.9590 and 0.9500 If the USD/CHF pair fails to break through the resistance level of 0.9590, the market will decline further to 0.9500 today. This would suggest a bearish market because the RSI indicator is still in a positive area and does not show any trend reversal signs. On the other hand, if a breakout takes place at the resistance level of 0.9660, then this scenario may become invalidated. Also, it should be noted that the price is still trading around the spot of 0.9660.

Daily key levels:

• Major resistance:0.9660
• Minor resistance:0.9590
• Intraday pivot point:0.9590
• Minor support:0.9545
• Major support:0.9500

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

Source:: Technical analysis of USD/CHF for June 30, 2017