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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.




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