FX.co ★ Technical analysis of USD/CHF for May 13, 2014

Review:

• It should be noted that if there is no significant news to influence, the market price will be moving from pivot point to resistance 1 or support 1. But if there is, the market price may go straight through resistance 1 or support 1 and reaches resistance 2 or support 2 and even resistance 3 or support 3.
• The first resistance of GBP/USD pair is projected at the level of 0.8921 today.
• The second resistance had already fixed at 0.8982.
• The area of 0.8980 / 0.9820 is a useful spot to sell in the long term this week.
• We expect a range of 63 pips on May 13, 2014. And 63 pips would make a profit of 94 pips.
• The value of 50% Fibonacci retracement levels is:0,8787.
• Volatility:149,38. As a rule, the market is highly volatile if the last day had a huge volatility

Weekly technical levels:

Date:13/05/2014

Pair:USD/CHF

• Resistance 3:0.9091
• Resistance 2:0.8982
• Resistance 1:0.8921
• Pivot point:0.8812
• Support 1:0.8751
• Support 2:0.8642
• Support 3:0.8581