FX.co ★ Technical analysis of USD/CHF for March10, 2014

The pair continues its downward trend towards the new lows. In the daily and hourly charts, the pair is trading below the moving averages, which gives more strength to bear. But in the H4 chart, RSI is giving a positive divergence. Indicating a pullback rally from the current levels. The pair is trading at 1.8779 in Asia's trading session. The major resistance level exists at 0.8849. We recommend to buy on intraday basis for targets 0.8787, 0.88010.8817, and 0.8846. On the downside, if the price breaks the 0.8769, it will fall up to 0.8757 and 0.8700.