Brent: is there a bottom?
On the W1, Brent oil formed a bullish “hammer”…
USD/CHF after the breakdown
Information is not investment advice
Last week USD/CHF broke below the uptrend support line of 2018. It’s now providing resistance for the price at 0.9965. Another obstacle on the upside is in the form of the 50-week MA at 0.9950. Finally, the psychological parity level of 1.00 is also now a resistance.
The USD recovered this week, but if American retail sales figures due at 15:30 MT time disappoint, USD/CHF will turn back down. The target will be at 0.9895 (March low). The major support is at 0.9845 (200-week MA). Only above 0.9970 the USD will have a chance to rise to 1.00 and 1.0035.
Elizabeth Belugina
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