Technical review of theUSD/CHF 25.02.2014

USDCHF dropped to 0,8850 on Monday. 5^th day in a row it crossed the level of 0,8876 (Fibonacci 78,6% level), but does not close below it. We believe that as long as this level holds, pair recovery is quite possible, but only the increase above 0,8964 will decrease the pressure.

Recommendations: We buy the pair in case of a breakthrough and clear fixation above the strong intermediate resistance level of 0,8910 with small stakes and we increase the stakes in case the pair goes above 0,8965 with the short-term aim of 0,9020 and a long-term goal of 0,9080

Andrey Batensky ​