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Alert - 09:55 (CET) - UsdChf
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The UsdChf is trading at 1.1616, ranging between 1.1560 and 1.1631. The current price is over yesterday's close at 1.1583. 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 1.1110 (January 16th low), 1.0865 (January 7th low) and 1.0613 (January 1st low). As the resistances at 1.1436 (January 27th high) was broken, the traders are watching the next at 1.1716 (January 23rd high) and 1.2084 (December 10th high).
The behaviour of the pair is inversely proportional 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. With the Euro declining against the Dollar, the Swiss currency is doing the same against the US 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 100 pips. The 60-minute Relative Strenght Index (RSI) is at 58 points, rebounding from the oversold area.
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