H4 chart
USDCHF seen in 4 hours chart listed at this point at the line eighth of Murrey lines, considered an extreme overshoot line. From the next candle close below this level could lead to seek their support line located around 0.9225 which is very wax overrun the last line of -2/8 (white). On the other hand, a breakdown in internal trendline could lead prices to 0.9399.
But we must also take into account that the level of 0.9277 vie to be an important support line trying to break par on previous occasions but even if successful, so we believe that trying again test the support. By itself it would be more prudent to go below this level sales positions.
15-Minute chart
In the 15 minute chart we see that USDCHF has broken its uptrend line and is in line eighth with a high probability to find support at 0.9277 or 0.9270 which houses line -1/8 which prices are likely to regress and have a trend change to the upside in the short term with a possible closure of the indecision second candle at the end of the day. However, data from the U.S. such as retail sales and the change in the price of final goods and services sold by producers impelled move products in either direction, but our point is that this data will strengthen the U.S. currency against the Swiss franc. Finally, since this is the last day of week it is likely that after this data we will not see stronger movements.
If you have any questions or suggestions, please contact: Email:antonio.inga@analytics.instaforex.com
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