Forex: USD/CHF at MA200

on Jun 28, 2013
Listen Friday June 28th_: The 50.0 percent Fibo retracement of 0.9837 to 0.9129 at 0.9482 was reached yesterday, for a 0.30 percent gain on the day. Today the pair opened at 0.9451 and has since fallen to 0.9427, in the process bouncing off the horizontal 89-day moving average to climb to the current 0.9460.

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Since yesterday the 4H candles have been closing below the MA200, which is currently lying at 0.9463 and is acting as a resistance.
MACD’s divergence is still active and the price may fall to test the 0.9407 level or go even deeper towards 0.9370 and 0.9323.
Resistance level for today: 0.9445, 0.9495 and 0.9520.
Support level for the day: 0.9405, 0.9370 and 0.9320.

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CHF Forex