USDCHF analysis for 22.05.2020
There are no major economic reports in Switzerland and the US so USDCHF will be chiefly under the influence of macroeconomic factors.
The support rests at 0.96910 with resistance at 0.97360 which the weekly pivot point at 0.97130 is located in between the lines. The EMA of 10 is moving with bullish bias in the ascendant channel and it is located below the EMA of 200 and the EMA of 100. The RSI is above below 50 level, the MACD line is above the signal line in the positive territory and the Stochastic is moving in high ranges. The ADX is showing buy signal. The price is above the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing an upward trend.
Long positions are recommended towards 0.97500.