Late in the North American session, there has been a 0.30% increase in USDCHF at 0.89765, driven by anticipations of an upcoming US interest rate increase in June.

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level1)]

• USD/CHF sees a 0.30% rise late in the North American session, fueled by expectations of a US rate hike in June.

The pair currently trades last at 0.89765.

The previous day high was 0.8975 while the previous day low was 0.8934. The daily 38.2% Fib levels comes at 0.8959, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8949, expected to provide support.

USD/CHF advances late in the North American session, as the greenback remains bolstered by expectations the US central bank would raise rates in June. Furthermore, the market mood was dampened amidst uncertainty about the US Federal Reserve (Fed) Chair Jerome Powell’s testimony in the US Congress. At the time of writing, the USD/CHF is trading at 0.8980, a gain of 0.30%.

From a technical perspective, the USD/CHF is neutral to downward biased. However, the recent correction keeps buyers hopeful of shifting the pair bias to neutral if several resistance levels are breached. Firstly, the USD/CHF must reclaim the 0.9000 figure, followed by conquering the 20-day Exponential Moving Average (EMA) at 0.9007. In that outcome, the next supply zone would be the June 15 daily high at 0.9056, followed by the confluence of the

Conversely, and the path of least resistance, the USD/CHF first support would be the June 16 low at 0.8940. Once cleared, the pair could dive towards the 0.8900 figure, ahead of challenging the year-to-date (YTD) low of 0.8819.

Oscillators offer mixed signals, with the Relative Strenght Index (RSI), although at bearish territory, aiming north; while the three-day Rate of Change (RoC) portrays the pair

Technical Levels: Supports and Resistances

USDCHF currently trading at 0.898 at the time of writing. Pair opened at 0.8959 and is trading with a change of 0.23 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.9038, 50 SMA 0.898, 100 SMA @ 0.9106 and 200 SMA @ 0.9337.

The previous day high was 0.8975 while the previous day low was 0.8934. The daily 38.2% Fib levels comes at 0.8959, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8949, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.8937, 0.8914, 0.8895
• Pivot resistance is noted at 0.8978, 0.8997, 0.9019

[/s2If]
Nehcap Expert Advisor
The NEHCAP MT4 EA is high quality professional trading system geared to generate returns without using GRID or martingales. Each trade has strict risk per trade parameter. The pairs under management include EURUSD, GBPUSD, AUDCAD, AUDNZD,GBPAUD, EURAUD, EURCAD, CHFJPY and many more.
The system is trading live: LIVE ACCOUNT TRACKING
You can run it free. Apply for a free trial and track our account. Buy the system or use profit share mechanism to generate returns on your MT4.
Join Our Telegram Group