Technical analysis of USD/CHF for September 15, 2017

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The pair retreated from 0.9705 (the high of September 14) and broke below its 20-period and 50-period moving averages. The relative strength index is capped by a bearish trend line since September 14.

The reported acceleration in U.S. consumer prices, which helped to raise expectations of the Federal Reserve keeping its interest-rate-rise schedule this year, did not give the U.S. dollar a sustainable boost.

To sum up, as long as 0.9680 is not surpassed, look for a new test with targets at 0.9605 and 0.9580 in extension.

Chart Explanation: The black line shows the pivot point. The present price above the pivot point indicates a bullish position, and the price below the pivot points indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Strategy: BUY, Stop Loss: 0.9680, Take Profit: 0.9605

Resistance levels: 0.9705, 0.9735, and 0.9800

Support levels: 0.9605, 0.9580, and 0.9500

The material has been provided by InstaForex Company - www.instaforex.com