FX.co ★ Technical analysis of USD/CHF for January 14, 2016

Trading recommendations:

• The resistance of the USD/CHF pair has already been set at 1.0120. Moreover, the double top stands at the level of 1.0125. Thus, we expect a range of 86 pips today because usually the last day of the week shows high volatility. Therefore, it will be quite profitable to sell below this level (1.0120) for retesting this level in the short term. Hence, sell deals are recommended below the level of 1.0120 with targets at 0.9992 (the level of 0.9992 is representing the first support). Additionally, the descending movement will probably be lower than the 0.9913 level with the target at the double bottom. The double bottom is at the level of 0.9913 and also coincides with the major support.

Intraday technical levels:

Date:14/01/2016

Pair: USD/CHF

• R3: 1.0158
• R2: 1.0125
• R1: 1.0075
• PP: 1.0042
• S1: 0.9992
• S2: 0.9959
• S3: 0.9909