USDCHF has been locked in a range for most of the week; capped on the topside by 0.9250 resistance and bounded on the lower end by strong support at 0.9114 (2 Dec, 27 Jan & 1 Feb lows).

Should we witness a renewed sell-off today (perhaps triggered by a weak non-farm payroll release this afternoon) the bears must overcome the buying interest at 0.9114 to secure a fresh wave of selling interest. If they can do that, expect next technical supports at 0.9066 (30 Nov low), 0.8953 (11 Nov low), and 0.8922 (9 Nov low).

If however the non-farm payrolls are good, we could see a short squeeze higher. Watch for first resistance to take effect at 0.9250 (1 Feb high), then 0.9340 (25 Jan high), 0.9381 (23 Jan high), 0.9413 (19 Jan high), and 0.9497 (18 Jan high).

MT4 - USDCHF has been locked in a range for most of the week; capped on the topside by 0.9250 resistance and bounded on the lower end by strong support at 0.9114 (2 Dec, 27 Jan & 1 Feb lows).

Should we witness a renewed sell-off today (perhaps triggered by a weak non-farm payroll release this afternoon) the bears must overcome the buying interest at 0.9114 to secure a fresh wave of selling interest. If they can do that, expect next technical supports at 0.9066 (30 Nov low), 0.8953 (11 Nov low), and 0.8922 (9 Nov low).

If however the non-farm payrolls are good, we could see a short squeeze higher. Watch for first resistance to take effect at 0.9250 (1 Feb high), then 0.9340 (25 Jan high), 0.9381 (23 Jan high), 0.9413 (19 Jan high), and 0.9497 (18 Jan high).

MT4 platform and analysis courtesy of Swissquote bank.

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