Forex: USD/CHF – Doji candle appears

on Jul 12, 2013
Listen Friday July 12th_: Yesterday’s daily candle formed a doji, which shows indecision in the market and usually acts as a reversal pattern. So far today though, the pair has been rising, currently trading at 0.9500, being a natural level of resistance (psychological).

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For the past two days the price has held above the flat 89-day simple moving average, which is residing at the moment at 0.9442.
The first obstacle for upwards movement is yesterday’s high of 0.9533. Should the price instead go lower, the movement may well be stopped at Wednesday’s low of 0.9403.
Resistance levels today: 0.9485, 0.9540 and 0.9600.
Support levels: 0.9445, 0.9405 and 0.9370.



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CHF Forex