01.11.201614:03 Forex Analysis & Reviews: Technical analysis of USD/CHF for November 01, 2016

Long-term review

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USD/CHF is expected to trade with bearish bias as the Key resistance at 0.9915. The pair broke below its previous support at 0.9915, which becomes a key resistance now, and is consolidating on the downside. The relative strength index is around its neutrality level at 50 but lacks upward momentum. Even though a continuation of technical rebound cannot be rule out, its extent should be limited. As long as 0.9915 is not broken, the pair is likely to return to 0.9815. A break below this level would call for a further drop toward 0.9795.

Resistance levels: 0.9950, 0.9980, 1.0020

Support levels: 0.9815, 0.9795, 0.9740

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