Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro- USDCHF trades flat, good to stay away

Intraday bias remains bearish as long as resistance 0.8550 holds. It hit a low of  0.84582 yesterday and is currently trading around 0.84497.

US final GDP q/q grows at a 3% annualized pace in the second quarter above forecast of 2.9%.The number of people who have filed for unemployment benefits declined to 218K vs 225K est.

Technicals-

 

The pair is trading below  34 and 55 EMA in the 4-hour chart.

 

The near-term resistance is around 0.8500 any break above targets 0.8520/0.8550.The bearish pattern from 0.92244 will get completed at 0.8375 if pair close above 0.8550.  The immediate support is at 0.8450, any violation below will drag the pair to 0.8420/0.8390/0.8365 (61.% fib projection)/0.8340.

 

Indicator (4-hour chart)

 

CCI (14)- Bearish

 

CCI (50)- Neutral

 

Average directional movement Index -  Neutral. Overall trend is mixed.  

 

It is good to  stay away.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.