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Alert - 11:20 (CET) - UsdChf
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The UsdChf is trading at 1.2039, ranging between 1.1962 and 1.2042. The current price is over yesterday's close at 1.2001. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
Last week, the pair rebounded from the barrier at 1.2300, retracing to the 1.2000 area´, moving away from the week support at 1.1829. If it's broken, the traders would contemplate the next levels at 1.1763 (November 12th low) and 1.1209 (October 30th low). On the other hand, they're watching resistances not seen since June 2007. For example, 1.2470 (June 14th, 2007 high), 1.2523 (October 26th, 2006 high) and 1.2748 (April 24th, 2006 high).
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 Dollar climbing against the Euro and, at the same time, the Swiss currency is having the same behavior as the Euro.
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 95 pips. The 60-minute Relative Strenght Index (RSI) is at 58 points, rebounding from the oversold area.
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ACM Advanced Currency Markets SA (hereinafter referred as ACM) is a professional financial intermediary, directly regulated by the Swiss Federal Department of Finance, Anti Money Laundering Control Authority. As forex specialist, ACM provides only currency and precious metals trading via highly professional forex trading software. All customers are aware that this information or any part thereof has been prepared without taking account of your objectives, financial situation and/or needs. This information is not intended as personalized investment advice and does not constitute a recommendation. It is not an offer or solicitation of any offer to purchase or sell any financial instrument. The analysis is based on the information which ACM finds reliable and accurate, but ACM does not assume any responsibility for any material nor for the transactions made on the basis of the information or the estimates of the analysis. ACM cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct, indirect and/or consequential loss arising from any use of this information, document or its content. All opinions and estimates constitute ACM analysis as of the data and are subject to change without notice. ACM does not warrant the accuracy or completeness of information contained herein, such information is subject to change and is not intended to influence your investment decisions. Past performance is not a reliable indicator of future performance.
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