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Alert - 09:50 (CET) - UsdChf
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The UsdChf is trading at 1.2031, ranging between 1.2000 and 1.2069. The current price is under yesterday's close at 1.2000. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
The traders are watching the supports at 1.1829 (NOvember 25th low), 1.1552 (November 5th low) and 1.1209 (October 30th low). The resistances are watched at 1.2199 (November 28th high), 1.2470 (June 14th, 2007 high) and 1.2523 (October 26th, 2006 high). The pair has been profit taking since the Sunday session beginning at 1.2205.
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 declining against the Euro and, at the same time, the Dollar is also declining 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 90 pips. The 60-minute Relative Strenght Index (RSI) is at 41 points, rebounding from the overbought area.
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