The Swiss franc depreciated significantly against the US dollar after the US Federal Reserve rates on Wednesday. Throughout Thursday, the pair USD / CHF reached the maximum tested. Intraday reversals analysts define the points (S1) 0,9476; (P) 0,9513; (R1) 0,9584. "As you can see, the range of intraday fluctuations of quotations is wide enough," - noted the analysts of the Forex Broker Company TraderGlobal. Successful breakthrough minor resistance USD / CHF 0,9559 resumed the upward movement of the level of 0.9359. The pair will likely test the next resistance level of 0.9688. In case of successful overcoming of the maximum analysts predict continued growth pair USD / CHF from 0.8698 level, where the range of 0.9838 to 0.9971 becomes the key resistance area.
On the other hand, if the Swiss franc will strengthen against the US dollar, after spending of the pair USD / CHF below 0.9441 support, we should expect the extension downward correction that started at 0.9668. But in this case, analysts still expect the formation of a strong support zone between 0.9300 and 0.9395 points which should be completed and where said correction may happen bounce up.
USD / CHF has received support after the decision of the Bank of Japan's monetary policy. The regulator reminded markets that the SNB and the ECB also moving towards easing. Now, the divergence between the political course of the ECB and the Fed still more effort that can hold the franc under pressure in the coming weeks or months. Next destination is rising at 0.9640.
Trading recommendations
Key levels on USD / CHF are: the center point of rotation is located at 0.9571 support levels are located below the 0.9530, 0.9502 and 0.9461, above - resistance levels 0.9640 and 0.9668. Hour rolling average deployed up, 200SMA is 0.9511, and the daily 20EMA rolled up and stored at 0.9499. Hourly RSI turn upwards and is at 69.
In the medium term downward movement from 0.9971 is treated as correction, which is completed in three waves at around 0.8698. Restoring quotes again directs pair USD / CHF 0.9971 to the maximum, where it ends the first wave of growth. Decisive break of this resistance level will enhance the growth prospects of the minimum and 0.7065 will shift the range of fluctuations of 0,7965-0,9971 to 0,8698-1,0494. "Bullish outlook of the pair USD / CHF remains as long as the level of support can resist 0,9300," - said the expert of TraderGlobal (rated among the TOP Forex Brokers Masterforex-V World Academy http://www.masterforex-v.com/),
