USDCHF aiming to re-experience 0.9650 regions

The USDCHF pair has found very solid support in the 0.9350 boundaries where he met the neckline of the double bottom and SMA50 as seen on the provided eight-hour graph.

usdchf-h8-01-06-2015-fxcomment

In the interim, RSI14 has found momentum support at the value of 50.00, while ADX started to show the ability to offer some kind of positivity.

Eyes are now on 0.9550, as a break of which will ease the path towards the main technical objective of our setup at 0.9650.

On the other side, 0.9330 should hold to keep the classical structure valid.

Amir El Araby

Co-Founder & Chief Global Strategist at FxComment.com, with 17 years’ experience in the technical analysis studies for FOREX, Commodities and Indices. Amir El-Araby worked as a mentor for many companies and institutes, where he presented new methods for trading in the financial market. Amir is a member of ESTA (Egyptian Society of Technical Analysts). Amir is also the official partner of Harmonic Trader (Mr Scott Carney) and the official instructor of harmonic trader association for Arab countries.

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