ZuluTrade Blog

USDCHF Technical Analysis and Scenarios

Market View | Monday, March 6, 2017 5:38 AM GMT

USDCHF is moving sideways up last few days. SNB's chairman Thomas Jordan gave an interview to newspaper Schweiz Am Wochenende and noted that Swiss Franc is "significantly" overvalued. While the recent tensions with North Korea may help give extra support to CHF. Today, USD traders are expecting Factory Orders (Jan- Previous: 1.3%, Forecast: 1.2%) which may offer some volatility on the pair. Tomorrow, SNB will announce the Foreign Currency Reserves (Feb-Previous: 644B) but this event has low impact on markets overall. 

Technical Analysis


The pair is following an upward channel as well as the 21 EMA. The last swing low is critical for the upside move. Supports are 21EMA is at 1.006 and the lower channel’s trendline. Resistances are the 1.0155 level and the upper channel’s trendline. Also, there is a MACD bearish signal.



The price is following the 21 EMA very well. We could anticipate a new low while MACD may give a positive divergence. The white zone, gives extra confluence on the potential trading setup. However, we have to see a MACD divergence.

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