USDCHF analysis for 16.11.2017

Switzerland is not publishing any economic reports but the US will release Initial Jobless Claims and Export and import Prices MoM. The support rests at 0.98830 with resistance at 0.99100 which both lines are below the weekly pivot point at 0.99680. The EMA of 10 is moving with bearish bias in the descendant channel and it is located above the EMA of 200 and below the EMA of 100. The RSI is rising towards the 50 level, the MACD indicator is in negative territory and the Stochastic is showing upward momentum. The ADX is not showing any clear signals. The price is in the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend. The resistance level breakout will smooth the way for further growth towards 0.997 area otherwise it will continue its bearish trend targeting 0.983. https://fxglory.com/usdchf-analysis-for-16-11-2017/