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Alert - 09:50 (CET) - UsdChf
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The UsdChf is trading at 1.2094, ranging between 1.2051 and 1.2110. The current price is over yesterday's close at 1.2062. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are over 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). On the other hand, the resistance at 1.2199 (November 28th high) is being challenged. If broken, the traders will watch the next levels at 1.2470 (June 14th, 2007 high) and 1.2523 (October 26th, 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 70 pips. The 60-minute Relative Strenght Index (RSI) is at 57 points, after being near the oversold zone.
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