Forex: USD/CHF: Moving amongst the moving averages

on Jul 23, 2013
Listen Tuesday July 23rd_: Yesterday the USD/CHF shed 0.35 percent in value, closing the day’s trading at 0.9358 after earlier reaching an intraday low at 0.9321. So far today though, the pair has been in recovery mode and is at the moment trading around the 0.9400 level.

During the past hour the price has climbed to test the 0.9407 high from yesterday, but has bumped into the flat 89-hour simple moving average and slightly rebounded. The same phenomenon can be observed on the 4H chart, where the price has risen to hit the MA200. However, the 200-day simple moving average stopped the decline and is thus far providing support.
Today’s resistances: 0.9405, 0.9440 and 0.9475.
Today’s supports: 0.9370, 0.9350 and 0.9320.

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CHF Forex