CloseOption Knowledgebase

Technical Analysis of USD/CHF on 12/07/2023 – An overview of important support and resistance levels of the four major currency pairs of the ongoing week.

• First key support level of EUR/USD: 1.109277
• Second Key support level of EUR/USD: 1.101282
• Third Key support level of EUR/USD: 1.097556
• First key resistance level of EUR/USD: 1.113318
• Second Key resistance level of EUR/USD: 1.11787
• Third Key resistance level of EUR/USD: 1.122512

• First key support level of USD/CHF: 0.866217
• Second Key support level of USD/CHF: 0.861846
• Third Key support level of USD/CHF: 0.86
• First key resistance level of USD/CHF: 0.89
• Second Key resistance level of USD/CHF: 0.882005
• Third Key resistance level of USD/CHF: 0.92985

• First key support level of GBP/USD: 1.29
• Second Key support level of GBP/USD: 1.285035
• Third Key support level of GBP/USD: 1.268969
• First key resistance level of GBP/USD: 1.3
• Second Key resistance level of GBP/USD: 1.31
• Third Key resistance level of GBP/USD: 1.316

• First key support level of USD/JPY: 138.158
• Second Key support level of USD/JPY: 137.878
• Third Key support level of USD/JPY: 137
• First key resistance level of USD/JPY: 138.793
• Second Key resistance level of USD/JPY: 140.682
• Third Key resistance level of USD/JPY: 142.207

 

Technical Analysis of USD/CHF on 12/07/2023.

 

The USD/CHF currency pair has experienced a significant decline in recent weeks, reaching a record low of 0.86598. The current price movement is experiencing a significant decrease and has reached a crucial support level that dates back to the start of 2021. This support level has been broken in the current conditions. However, it is advisable to wait until the daily price closes below this level before making further decisions. Based on an analysis of the price movements formed in the monthly and weekly time frames, there is currently no clear and transparent reason for the price to rise from a long-term perspective. Suppose the support level of 0.86598 is threatened and subsequently broken. In that case, there is a possibility that the price could fall further and reach additional support levels, such as 0.86000.

The price has reached an oversold condition in shorter periods such as daily and 4 hours. And with the formation of a price floor and its stabilisation, there will be a potential for correction and ascension, although weak, during the future candlesticks in this currency pair. Currently, the trend appears to be heading downward, which may not be ideal for buyers looking to invest in the medium term. However, if a fixed price floor is established within the next four hours, there is a chance that the price may correct itself and start trending upwards towards the resistance levels of 0.875 and eventually 0.88.

 

CloseOption Team

www.closeoption.com

Join Us to Learn How to Succeed in Your Trading person_addRegister

Related Posts

An Overview of Bitcoin Status on 28/02/2024

An Overview of Bitcoin Status on 28/02/2024

An Overview of Bitcoin Status on 28/02/2024 – An overview of important support and resistance levels of the four major currency pairs of the ongoing week. • First key support level of EUR/USD: 1.07969 • Second Key support level of EUR/USD: 1.07223 • Third Key support level of EUR/USD: 1.06310 • First key resistance level …

Bitcoin – Ascend or Descend?!

Bitcoin – Ascend or Descend?!

Bitcoin – Ascend or Descend?!- An overview of important support and resistance levels of the four major currency pairs of the ongoing week. • First key support level of EUR/USD: 1.07617 • Second Key support level of EUR/USD: 1.072363 • Third Key support level of EUR/USD: 1.063614 • First key resistance level of EUR/USD: 1.082795 …

An Overview of the EUR/USD Status on 14/02/2024

An Overview of the EUR/USD Status on 14/02/2024

An Overview of the EUR/USD Status on 14/02/2024.An overview of important support and resistance levels of the four major currency pairs of the ongoing week. • First key support level of EUR/USD: 1.06983 • Second Key support level of EUR/USD: 1.06655 • Third Key support level of EUR/USD: 1.06351 • First key resistance level of …

An Overview of the Bitcoin Status on 06/02/2024

An Overview of the Bitcoin Status on 06/02/2024

An Overview of the Bitcoin Status on 06/02/2024 – An overview of important support and resistance levels of the four major currency pairs of the ongoing week.   • First key support level of EUR/USD: 1.0723 • Second Key support level of EUR/USD: 1.0638 • Third Key support level of EUR/USD: 1.0515 • First key …

Add your Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Comments