Forex: USD/CHF in bearish mood

on Jul 11, 2013
Listen Thursday July 11th_: As with other major pairings, the USD/CHF was also governed by the bears yesterday. The pair lost 2.60 percent, closing the day at 0.9472. The day’s low proved to be 0.9403, where the price received support and subsequently rebounded. The downslope was supported by the 4H MACD (9,12,1) divergence.

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Today the price action has been finding support at the MA200 on the 4H timeframe, which is currently residing at 0.9430. The pair is at press time trading at 0.9486.
Levels of resistance: 0.9505, 0.9545 and 0.9600.
Levels of support: 0.9405, 0.9370 and 0.9320.



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CHF Forex