FX.co ★ Technical analysis of USD/CHF for September 23, 2014

Overview:

• According to previous events, the price of the USD/CHF pair has still been moving between 0.9390 and 0.9350. Also it should be noted that the psychological level has set at the 0.9320 price which represents a strong support on 22 September 2014. As it is shown in H1 chart resistance has already set at the level of 0.9415 and the double top placed at the 0.9432 level. Therefore, sell deals are recommended below the 0.9432 - 0.9415 spot with targets at the level of 0.9360. Moreover, the price of the USD/CHF pair is going to try break the daily pivot point at 0.9360 to call for the bearish market below 0.9360. Hence, the price will continue moving towards the level of 0.9320 in order to form a double bottom at this level in H1 chart. On the other hand, the stop loss should always be in account, so it will be wise to set your stop loss at the 0.9450 price.