Technical analysis of USD/CHF for March 15, 2017

USD/CHF movement is supported by a rising trend line. The pair is supported by the bullish trend line since March 13, which confirms a positive outlook. The upward momentum is further reinforced by the rising 20-period and 50-period moving averages. The relative strength index is mixed to bullish.

The U.S. dollar got firmer as the Fed started its monetary meeting where a rate rise is expected to be a done deal. While a rate increase is already priced into markets, Investors will surely focus on the Fed’s interest-rate projections.

Hence, as long as 1.0070 is not broken, a further rise to 1.0115 and even to 1.0135 seems more likely to occur.

Resistance levels: 1.0115, 1.0135, and 1.0160

Support levels: 1.0055, 1.0035, and 1.00

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

Source:: Technical analysis of USD/CHF for March 15, 2017