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

USD/CHF

Short-term view-

The pair has been in an uptrend from 0.87 levels. It paused its rally at 50-week SMA. Yesterday and today, the pair is holding the 21-week EMA. The trading pattern is framed between 0.8919-0.9042 levels. The pair will extend its leg once it comes out of the range. If it breaches the upside resistance at 50-week SMA, it can fly up to 0.9082, 0.9157 and 0.9250 levels in the next couple of weeks. This view will be activated only above 0.9038 levels. On the down side, if the pair breaks the 21-week EMA, it can drop to 0.8898, the immediate support selling pressure will take place below this, for 0.8859, 0.8830 and 0.87 levels.

Buy above 0.9038. Sell below 0.8898.

Intraday-

The pair is taking support at 50-hour SMA. Once the pair breaks 0.8970, traders can enter selling side. On the down side, the support levels are at 0.8956, 0.8938, 0.8925 and 0.89 levels.