FxGrow Daily Technical Analysis – 20th Nov, 2015
By FxGrow Research & Analysis Team
USDCHF - highest since 2015
Dollar continues its uptrend rally on most of the currency pairs. Interesting situation can be seen at USDCHF, where price reached level in which was last time in the January 2015. Then it was finished by dramatically drop from 1.0230 to 0.7810. Since a month there is a dynamic upward movement without any bigger correction. Currently price reached to resistance and that level should bring declines or maybe even a deeper correction. Strong support levels are at 1.0000, 0.9900, 0.9500.
Wider view, time-frame monthly
Long-term perspective depends on what level USDCHF will end this month. Since 5 years there wasn't end of the month above 1.0000. If demand will end this month at current levels it will be more likely that upward movement will be continued in the next month. The next strong resistance are at levels: 1.0700, 1.1280.
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Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.