ByLCMS Traders FX Analysis Team
JUL 7, 2021
USD/CHF is trading 0.19% lower to 0.9230 after keeping steady for two consecutive days. The intraday support levels are at 0.9205 and 0.9178. The near-term resistance areas are at 0.9255 and 0.9276.
On the intraday chart, the pair has significant support levels near the current price. The SMA-14 support line is at 0.9204 and the SMA-50 support area is at 0.9070. The mid-Bollinger band is at 0.9150 while the upper and lower bands are at 0.9345 and 0.8955. The RSI is at 61 and the MACD is above the zero line. Following the nearby support areas and the ongoing strength in the USD, the pair is ideal for long entry at the following levels
Direction: Buy
Entry: 0.9210
Take Profit: 0.9260
Stop-Loss: 0.9170
Sustained price action below 0.9200 would bring bears back in the game and help build a bearish pattern. On the upside, the 0.9270 is the interim hurdle for the bulls to cross above 0.9300 mark.
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