23.11.201606:12 Forex Analysis & Reviews: Technical analysis of USD/CHF for November 23, 2016

Long-term review

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USD/CHF is supported by a rising trend line. The technical picture of USD/CHF is bullish above an ascending trend line, which emerged on Nov 22. The relative strength index is above its neutrality level at 50 and lacks downward momentum. Additionally, 1.0060 (Nov 18 and 22 bottoms) represents a significant key support level, which should limit the downside potential. The U.S. dollar was off its multi-year high, it managed to avoid drifting lower. The ICE U.S. Dollar Index marked a day-low of 100.77 before rebounding to settle at 101.04, just a bit down from 101.05 in the prior session.

As long as this key level is not broken, look for a further upside toward 1.0145. A break above this level would call for a further advance toward 1.0190.

Resistance levels: 1.0145, 1.0190, 1.0245

Support levels: 1.0025, 0.9990, 0.9940

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