Exchange Rates 11.08.2017 analysis

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USD/CHF is under pressure and expected to trade in lower range. The pair retreated from 0.9670 (the high of August 10). The 20-period moving average crossed below the 50-period one.

To sum up, as long as 0.9670 is not surpassed, a further drop to 0.9605 and even to 0.9565 seems more likely to occur.

Chart Explanation: The black line shows the pivot point. The present price above the pivot point indicates the bullish position; and the price below the pivot points indicates the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Strategy: SELL, Stop Loss: 0.9670, Take Profit: 0.9585

Resistance levels: 0.9705, 0.9735, and 0.9770

Support levels: 0.9585, 0.9565, and 0.9525

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Performed by Ahsan Aslam, Analytical expert
InstaForex Group © 2007-2017

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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