USDCHF will be chiefly under the influence of Manufacturing PMI in the US for today. It seems that this pair is going to move with bullish bias climbing up the ascendant channel. The support lies at 0.97570 with resistance at 0.97850 which both lines are above the weekly pivot point at 0.97210. The MACD indicator is in positive territory showing the price growth and the RSI is standing above the 50 level. The EMA of 10 is located above the EMA of 50 which shows the price growth for the last recent days. As far as the price is moving above the pivot point, long positions are recommended with the target at 0.98000.
Technical analysis of USDCHF dated 25.04.2016
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