USDCHF Technical Analysis (2-6 February,2015) | January 31, 2015

USDCHF has formed a rising wedge pattern. In the coming trading days, we can see breakout of this pattern. If break on downside, then we have to take sell entry and target will be 0.9000 area. On the other hand, 0.8820 is good buy zone for this pair. If we find this pair at 0.8820 support area, then we can take buy for long term.


In Technical Indicators view

In daily chart, MACD indicator is still below 0.0 level. So we can take sell entry if it break in downside on wedge pattern.

In daily chart, RSI indicator is also below 50 level which indicates neutral mode on this pair.

50, 100, 200 Moving averages are giving bearish signal on this pair.

In summary, technical indicators are giving sell signal. So our recommendation is to wait for breakout of rising wedge pattern.



Weekly Pivot, Support and Resistance

Resistance Two (R2): 0.9617

Resistance One (R1): 0.9410

Pivot Point: 0.9083

Support One (S1): 0.8876

Support Two (S2): 0.8549