10.01.2018 12:58 PM
Technical analysis of USD/CHF for January 10, 2018
This image is no longer relevant


  • The USD/CHF pair broke resistance which turned to strong support at the levels of 0.9786 and 9756 yesterday. The level of 0.9786 coincides with a golden ratio (38.2% of Fibonacci), which is expected to act as major support today. The Relative Strength Index (RSI) is considered overbought because it is above 70. The RSI is still signaling that the trend is upward as it is still strong above the moving average (100). This suggests that the pair will probably go up in coming hours. Accordingly, the market is likely to show signs of a bullish trend. In other words, buy orders are recommended above 0.9756 with the first target at the level of 0.9835. From this point, the pair is likely to begin an ascending movement to the point of 0.9869 and further to the level of 0.9889. The level of 0.9889 will act as a strong resistance and the double top is already set at the point of 0.9913. On the other hand, if a breakout happens at the support level of 0.9756, then this scenario may become invalidated.
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex always strives to help you
    fulfill your biggest dreams.
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
  • 30% Bonus
    Receive a 30% bonus every time you top up your account

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback