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Alert - 09:50 (CET) - UsdChf
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The UsdChf is trading at 1.1887, ranging between 1.1850 and 1.1946. The current price is oveer yesterday's close at 1.1866. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are over the 200-day EMA.
As the resistance at 1.1844 (October 11th, 2007 high) was broken, the traders are watching the next at 1.1200 (key) and 1.2179 (August 17th, 2007 high). The supports are watched at 1.1475 (November 3rd low), 1.1356 (October 31st low) and 1.1203 (October 30th low).
The behaviour of the pair is inversely propotional to the EurUsd one, as the ECB and SNB monetary policies are very similar. This is another way of explaining the behaviour of the UsdChf. This way, we see the Euro climbing against the Dollar and, at the same time, the Swiss currency is doing the same.
This month, the pair has ranged from 1.1475 to 1.1947, with the Dollar gaining 2.62% against the Swiss currency.
Checking the graphics again, we see that the current price is over the 0.00% (0.9646) and under the 23.60% (1.4282) Fibonacci retracement line. The average volatility per hour is 140 pips. The 60-minute Relative Strenght Index (RSI) is at 53 points, rebounding from the overbought area.
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