USD/CHF Update – 14/07/2017 (13:07am) – by Arjun Lakhanpal

July 14, 2017 by

USD/CHF Update – 14/07/2017 (13:07am): USD/CHF near term outlook stays positive – it is bouncing from its 200 week ma. The market continues to rebound from key support at .9557/44 (the 200 week ma and 2016 low), initial support is .9600 (this has held 3 times recently). It has also now cleared the resistance offered by the Fibo resistance at .9682, so reactivates interest in the upside. Above here, the market will be well placed to move towards .9760/.9825. This is the location of the 38.2% and 50% retracement of the move down from May.