{"id":61500,"date":"2014-10-07T04:47:33","date_gmt":"2014-10-07T08:47:33","guid":{"rendered":"http:\/\/countingpips.com\/?p=61500"},"modified":"2014-10-07T07:09:43","modified_gmt":"2014-10-07T11:09:43","slug":"usdchf-testing-a-key-support-area","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/10\/usdchf-testing-a-key-support-area\/","title":{"rendered":"USDCHF Testing A Key Support Area"},"content":{"rendered":"
October 7, 2014<\/div>
\r\n<\/div><\/div>

\"ikofx-logo\"<\/a><\/p>\n

Visit our website \u2013 Ikofx<\/a><\/strong><\/em><\/p>\n

The US dollar traded lower against the Swiss franc Intraday, and lost a lot of gains. There was no major economic release causing the decline in the USDCHF pair. We can call it a profit taking move, but we need to be careful, as there are several support areas on the way down for the pair. The US JOLT\u2019s job openings data will be published later during the NY session, which might not cause major moves in the USDCHF pair. There were some pairs which were affected recently, including EURUSD and AUDUSD. Both were seen trading higher due to the weakness in the US dollar.<\/p>\n

There is a monster bullish trend line on the hourly chart of the USDCHF pair, which might act as a solid catalyst for the pair. Yesterday, the pair traded very close to the mentioned trend line and even spiked below the 100 hourly moving average. However, it managed to bounce back from the 0.9580 support area, and closed above the 100 hourly moving average. If the pair gains momentum again, then it might climb towards the 0.9640 level in the coming sessions. The only bearish signal as of now is that the RSI is below the 50 level. It needs to settle above the stated level to gain momentum.<\/p>\n

\"USDCHF<\/a><\/p>\n

Alternatively, if the US dollar sellers manage to break the trend line and support area, then a move towards the 200 hourly moving average would be on the cards. So, the next level of interest could be around 0.9550.<\/p>\n

Overall, one might consider buying around the mentioned trend line as long as the pair is above it.<\/p>\n

\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014-
\nPosted By IKOFX Technical Team: Online Forex Broker
\nWebsite: http:\/\/ikofx.com<\/a><\/p>

\r\n
\r\n

Free Reports:<\/p><\/div>\r\n

\r\n

<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

\r\n
\r\n
\r\n

<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

\r\n<\/div>\r\n

\r\n
<\/div>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Visit our website \u2013 Ikofx The US dollar traded lower against the Swiss franc Intraday, and lost a lot of gains. There was no major economic release causing the decline in the USDCHF pair. We can call it a profit taking move, but we need to be careful, as there are several support areas on […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-61500","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/61500","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=61500"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/61500\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=61500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=61500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=61500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}