USD/CHF Weekly Analysis 17 February 2017

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The labour market report of Australia showed an unexpected improvement with a decrease of 0.1% from 5.8% in unemployment and an employment change to 13.5k from 16.3k.

This afternoon the housing report and the Philadelphia report will be released.

CHARTING

The crucial points are:

1

 

he price of USD/CHF has met strong resistance at 1.00660 level. This level was tested in previous sessions, but the positive inflation and retails sales report yesterday where a catalyst to break through this level, which was short lived and the price retraced back to previous levels. Today we can see a weakening of the dollar resulting in clear bearish candle.

 Charting outcome: Neutral – Marginally bearish

INDICATORS (computerized T.A)

The crucial points are:

2

3

 

The indicators are signaling that a weak uptrend has occurred, which is possible to become stronger. The moving averages slopes have added bullishness, while the balance between the positive and the negative dynamic has positively changed. The trend dynamic has marginally increased by +5.36%, whilst the market’s volatility has decreased by -11.39%. Finally, the oscillators have remained in marginally overbought levels.

Indicators outcome: Marginally bullish – Neutral

CONCLUSION

Indicators and charting are confirming that the market is possible to move in a neutral path. If the price appreciates higher than 1.00660 level, the next resistance is possible to occur at 1.01700 level. On the contrary, if the price breaks lower than 0.99600 level, the next possible support is at 0.99000 level.

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