Forex: USD/CHF rising above 0.9200

on Aug 22, 2013
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_iNVEZZ.com August Thursday 22nd_: Yesterday the USD/CHF changed direction and rose, gaining 0.64 percent with the daily candle opening at 0.9169 and closing at 0.9233. The pair failed to trade for long below the strong 0.9200 psychological level, which has been offering significant support since the middle of February.

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Forex: USD/CHF exploring 0.9200 Currency Briefing: July minutes show officials divided

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Until 10.00 BST today the USD/CHF had been trading sluggishly, but since has been rising. At press time the pair is changing hands at 0.9253, 0.20 percent above the opening price. Also this level is a resistance. The intraday high and low are respectively at 0.9288 and 0.9230. The intraday high tested the resistance area of 0.9287/90.

The first major target upwards is the 0.9400, which has been providing strong resistance since 21 July. Above this level lies the next major target of the 9 July high of 0.9750.
The MACD (9,12,1) is still in a convergence mode on the daily chart and the market may witness more upwards movements. The MACD on the 1H and 4H scales is positive, adding to the bullish pressure.

If the pair rebounds to the downside, the 0.9200 level will be the main obstacle for further declines.
The 89- and 200-day simple moving averages are floating above the price action, indicating that the downtrend from 0.9750 may not be finished.
!fm[](/uploads/story/5019/usdchfdaily_2208.png)

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Forex: USD/CHF exploring 0.9200 Currency Briefing: July minutes show officials divided

FOLLOW our top traders or BET against them.
http://nvz.bz/17VvYjG

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