USD/CHF Weekly Analysis 09 March 2017

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During the Asian session, the inflation report of China printed showing a lower than expected inflation level of 0.8%, with expectation at 1.7%.

Later on today, we are expecting to hear the monetary policy decision from ECB and the comments that ECB President Draghi is going to deliver in the press conference.

 

CHARTING

The crucial points are:

4

 

The price of USD/CHF, after strongly fluctuated from 1.00433 (38.2) level of support to 1.01412 (23.6) level of resistance, breached the 1.01412 level, which now has been converted as a support level. Today the price is continuing to maintain this level as support, but without any evidence if it’s going to move higher or not, until now. Moreover, the large upward spikes in the previous sessions suggests that the more likely scenario is that the positive path is not going to be easy from now on.

Charting outcome: Neutral – Marginally Bullish 

INDICATORS (computerized T.A)

The crucial points are:

 

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The indicators are signaling that a weak uptrend has occurred, which is possible to become stronger. The moving averages have kept the same slopes, while the spread between the positive and the negative dynamic has widened. The trend dynamic has risen by +11.49%, whilst the market’s volatility has marginally fallen by -8.95%. Finally, the oscillators have remained in overbought levels.

Indicators outcome: Marginally bullish – Bullish    

CONCLUSION

Indicators and charting are confirming that the market is possible to move in a positive path. However, there are arguments about the neutral path as well. If the price holds 1.01412 level (23.6) as support, the next resistance is possible to occur at 1.02982 (0.0) level. On the contrary, if the price breaks lower than 1.01412 (23.6) level, the next possible support is at 1.00433 (38.2) level.

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