USDCHF 1.0066 – bullish – Approaches key resistance at 1.0129
USDCHF 1.0066 – bullish – Approaches key resistance at 1.0129
USDCHF extended the 5-week rally from the .9477 higher base (October
15, 2015 low) to 1.0095 (November 13, 2015 high), approaching the 1.0129 key resistance (March 12, 2015 high). Above lies the 1.0240 YTD peak (January 14, 2015).
Overbought studies caution for pullbacks. While the 0.9990 low (November 12, 2015) support dips, scope remains for upside. However, a deeper pullback below 0.9990 would prolong the consolidation and risk .9836 (November 2, 2015 higher low) where buyers may step in.
Outlook:
Intraday: bullish
Daily: bullish
Weekly: bullish
USDCHF extended the 5-week rally from the .9477 higher base (October
15, 2015 low) to 1.0095 (November 13, 2015 high), approaching the 1.0129 key resistance (March 12, 2015 high). Above lies the 1.0240 YTD peak (January 14, 2015).
Overbought studies caution for pullbacks. While the 0.9990 low (November 12, 2015) support dips, scope remains for upside. However, a deeper pullback below 0.9990 would prolong the consolidation and risk .9836 (November 2, 2015 higher low) where buyers may step in.
Outlook:
Intraday: bullish
Daily: bullish
Weekly: bullish
