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USD/CHF intraday: technical rebound towards 0.8852 before a new drop

2024-03-18
296

Our pivot point is at 0.8852.

Our preference: technical rebound towards 0.8852 before a new drop.

Alternative scenario: the upside breakout of 0.8852, would call for 0.8870 and 0.8881.

Comment: the RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price stands above its 20 period moving average (0.8833) but below its 50 period moving average (0.8839).

Supports and resistances:

0.8881 **

0.8870 *

0.8852 **

0.8845

0.8837 last

0.8814

0.8803 **

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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