FX.co ★ Technical analysis of USD/CHF for December 09, 2014

Intraday trading recommendations:

• According to the previous events, the price of USD/CHF is still trapped between the levels of 0.9770 and 0.9705. The level of 0.9770 will indicate strong resistance. Moreover, the price will form a double top at this level, therefore, it will be wise to sell at 0.9770 (short term) with the first target at 0.9732 (61.8% Fibonacci retracement levels). Then it will continue towards 0.9705 and 0.9679 in order to test the weekly support 1.

Observations (intraday):

• Projected high: 0.9770
• We expect a range of 198 pips this week.
• Projected low: 0.9679

Weekly technical levels:

Date and Time: 9/12/2014 13:12

Pair: USD/CHF

• Projected High: 0.9981
• Breakout (Buy Stop): 0.9926
• Strong Resistance (Sell Limit): 0.9896
• Current Pivot: 0.9778
• Strong Support (Buy Limit): 0.9659
• Breakout (Sell Stop): 0.9634
• Projected Low: 0.9584