Stronger U.S. data pushed the green back ahead of Swiss Franck 4-day higher and closed at the highest level. In the daily chart the pair breached and closed above the symmetric triangle and is still trading above that. On the higher side, the pair has resistance at the 0.9516 level (20Dsma). In case, the pair manages to close above 20Dsma, we can see a strong momentum towards the 0.9562 levels. In yesterday's session, the 200WEma gave a good amount of support. The trading pattern is framed between the 0.9562-0.9398 levels. In case, if the pair closes below 0.9398, we can see a sharp correction towards the 0.9353 and 0.9301 levels.
Support is at 0.9398, 0.9353, and 0.9301.
Resistance is at 0.9516, 0.9562, 0.9625.
For an hourly view, the prices are closed and the pair is trading below the 12ema and 34hrsma levels. The pair has resistance at 0.9505 or 61.8 fib level in the h4 chart above this, it can extend its upward journey towards the 0.9515 and 0.9545 levels. On the down side, it has support at 0.9480, 0.9458 (12ema) and 0.9440 (35DEMA). We recommend selling only below the 0.9440 levels as panic might emerge below 0.9398. The pair can challenge 0.9515 and 0.9545 only above 0.9505.
Intrada y- Fresh buying only above 0.9505.
The material has been provided by InstaForex Company - www.instaforex.com
