Solid News

USDCHF, Murrey Levels Analysis

8/22/2022 2:55 PM

The USD/CHF pair is moving within the medium-term downward channel.

Two weeks ago, the price reached its lower border around 0.9400 ([1/8]), after which it resumed growth. Now the quotes are close to the lower border of the central Murrey channel 0.9643 ([3/8]), and in case of its breakout, they can continue the upward dynamics to 0.9765 ([4/8]), 0.9887 ([5/8], the upper border of the downwards channel). The key “bearish” level is 0.9521 ([2/8]), supported by the middle line of Bollinger bands, the breakdown of which will allow the trading instrument to fall to 0.9400 ([1/8]) and 0.9277 ([0/8]).

Technical indicators do not exclude the resumption of negative dynamics: Bollinger bands are directed downwards, Stochastic has entered the overbought zone, which can become catalysts for a downward reversal, and only the MACD histogram is decreasing in the negative zone.

Resistance levels: 0.9643, 0.9765, 0.9887.  | Support levels: 0.9521, 0.9400, 0.9277.

Find Us
First Floor, First St Vincent Bank LTD Building James Street Kingstown St Vincent and the Grenadines
Call Us
+1 415 367 3742

Solid ECN Securities is an international brand formed and authorized in Saint Vincent and the Grenadines with the registration number 1390 LLC 2021 committed to offering the best possible trading experience. Disclosure: Please note that foreign exchange and other leveraged trading involve a significant risk of loss. It is not fit for all investors and you should make sure you realize the risks involved, seeking independent advice if necessary.
Solid ECN Securities and it affiliates don't accept applications from Indonesia, Egypt, Australia, Bonaire, Curaçao, East Timor, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, South Sudan and other restricted countries.
Copyright All Right Reserved 2023