USD / CHF Technical Analysis June 28

Daniel Garin
Jun 28, 2016
1 min read

Will the price remain above 0.9805 on the USD/CHF?

The upside pressures on the USDCHF got more tensed since the 24th of June 2016 where the price climbed from 0.9647 to 0.9805.

Today’s major pivot point area, the 0.9805 zone, is a critical level for the buyers in their attempts of boosting the price once again to the upside.

Probable Scenario

The latest stabilization of the price close to the 0.9805 level is a good indication that the bulls could likely exert momentum to lead the pair upwards.

Stochastic oscillators’ formation signals that a probable bullish retracement at the 40 level has greater probabilities to occur.

In the event where the pair appreciates, the buyers could set their take profit target at 0.9898.

Alternative Scenario

Alternatively, a bearish break-out at the 0.9743 zone could signal that the sellers may exert far greater pressures to force the price to lower areas such as the 0.9647 level as their first target.

Today’s Major Announcements

The Gross Domestic Product Price Index (Q1), the Gross Domestic Product Annualized (Q1), the Personal Consumption Expenditures Prices (QoQ) (Q1), the Core Personal Consumption Expenditures (QoQ) (Q1), the S&P/ Case – Shiller Home Price Indices (YoY) (Apr), and the Consumer Confidence (Jun) releases are expected to have a medium impact on the U.S. dollar
There are no any releases on the Swiss franc