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Usdchfshort

USDCHF Sell a break of yesterday low.USDCHF - Intraday - We look to Sell a break of 0.9929 (stop at 0.9951) Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. A break of yesterdays low would confirm bearish momentum. A higher correction is expected. Overbought signals and exhaustion indicators offer fair reason to sell the index but we prefer to see a break of support before fading this impressive move. Our profit targets will be 0.9876 and 0.9856 Resistance: 0.9970 / 1.0000 / 1.0030 Support: 0.9930 / 0.9900 / 0.9880
Short
by Signal_Centre1
USD/CHF: double top bearish pattern in sight?The Swiss franc ( USD/CHF ) rallied against the dollar in London morning trading, after the Swiss National Bank (SNB) unexpectedly raised interest rates by half a percentage point to -0.25%, shocking the market which had anticipated rates to remain unchanged. Rising inflationary pressures prompted the SNB's unexpected rate rise, after Switzerland's inflation rate hit 2.8% year-on-year in May, the highest level since September 2008. The SNB also stated that further rate increases are inevitable in the foreseeable future and that the franc is no longer highly valued because of recent depreciation. On the technical front, USD/CHF fell sharply to 0.98, and a double top bearish pattern is increasingly gaining shape, which could indicate a further dip to the neckline support of 0.955. Momentum indicator, as represented by the 14-day relative strength index, tilts dangerously downward and tries to test the 50 mark. Read more...
by Capitalcom