FX.co ★ USD/CHF - Mathematical analysis with Murray Lines for September 17, 2013

Daily chart

Prior to downtrend the 0.9277 area was an important support for the USD/CHF pair, which could not be overcome easily. At this time the pair is traded at 0.9266 with a bias towards low and marked according to the theory of Murrey lines, the suggestion is to buy and sell when the price crossover is observed.
Taking into account this fact we believe there is a high probability that the pair breaks the trend line and moving less to support 2 located at 0.9198.

4-Hour chart

In the 4-hour chart the USD/CHF pair is below the line 0/8 (solid line) considered a final support line. Since 0.9277 becomes a major resistance area it is very likely that the pair is looking for a new support around 0.9216, where the line 2/8 is located, but an income above 0.9277 price could eventually take it to 0.9308 and then continue its downtrend.

1-Hour chart

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