Weekly technical levels:
USD/CHF: According to the previous events, the price of the USD/CHF pair is still between the levels of 0.9240 and 0.9300. Moreover, it should be noted that the market was so stable and the trend was also too clear (downward), as well as the range was around 120 pips last week. Additionally, the value of 38.2% Fibonacci retracement levels is 0.9319 (double top). The key level of 0.9319 is presented for downtrend to confirm a bearish market. Therefore, sell deals are recommended below the 0.9319 level with targets at 0.9232 in order to form a double bottom at this level, and it will resume towards 0.9200 to test the weekly support 1 at 0.9199 for September 17, 2013.
The material has been provided by InstaForex Company - www.instaforex.com