Technical analysis
20:36 USD / CHF remains above MA (200) H1
Today, the USD/CHF pair rose from Chf0. 8950 to a two-week high of Chf0.9010, regaining most of the positions lost during yesterday's US trading. On the hourly chart, the pair remains above the moving average line MA (200) H1 (Chf0. 8940), and on the four - hour chart-above MA (200) H4 (Chf0.8920). The resistance of Chf0. 9025 may keep USD / CHF from further growth. The Chf0.8930-50 area is the main support. The most likely range of price movement for today may be hidden within the range of Chf0. 8930-0. 9025
⦁ Resistance levels are: Chf0.9025-45, Chf0.9090, Chf0.9145
⦁ Support levels are: Chf0.8930-50, Chf0.8870-90, Chf0.8840
The main scenario for the pair's promotion - continuation of the upward movement to Chf0. 9025-45 (February 5 and 22 highs)
An alternative scenario - correction and may be a decline to Chf0. 8930-50 (February 19-22 lows, session low, MA (200) H1)
Market focus
- U.S. consumer spending rises 2.4 percent in January, income surges 10 percent
- BoE's chief economist Haldane: We might see higher and more sustained rise in UK inflation than expected
- U.S. consumer sentiment slightly better than initially estimated in February
- Key events for next week: Eurozone, Britain, China and US PMI indices, RBA interest rate decision, Canada, Australia and Japan GDP, Eurozone and US unemployment rate, Canada and US trade balance
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