Current trend

This week the pair is barely leaving a narrow range between the levels of 0.9960 and 0.9990.

Today attention needs to be paid to data on Real Retail Sales for February in Switzerland. According to forecasts, the index will slow its fall from -1.6% to -1.2% that might support the Franc.

Support and resistance

Technical indicators do not give a clear trading signal. The price remains in the upper Bollinger band, while bands are narrowing and directed down.

Support levels: 1.9900 (middle MA of Bollinger Bands), 1.0970 (lower MA of Bollinger Bands).

Resistance levels: 1.0080 (upper MA of Bollinger Bands), 1.0250 (January high).

Trading tips

Short positions can be opened after the price consolidation below the level of 0.9860 with the target at 0.9700.

Long positions can be opened from the level of 1.0080 with the target at 1.0250.  

USD/CHF: review and forecast

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