News

USD/CHF Price Analysis: Greenback off fresh 2020 highs, trades above 0.9800 figure

  • USD/CHF bulls are keeping the market above the 0.9800 figure.
  • The rising wedge pattern can limit extra gains on USD/CHF. 
 

USD/CHF daily chart

 
USD/CHF is easing after hitting new 2020 highs this Friday. The quote is trading below the 100/200-day simple moving averages suggesting an overall bearish bias.
 

USD/CHF four-hour chart

 
The market broke above the 0.9800 figure and the rising wedge upper trendline. If bulls maintain the market above the 0.9800 figure it would be considered a bullish sign which can lead to further gains towards the 0.9830 and 0.9850 levels. On the flip side, a daily close below the 0.9800 figure could see a re-integration of the wedge with a potential decline towards the 0.9770 level. 
 
 
 
Resistance: 0.9830, 0.9850, 0.9870
Support: 0.9800, 0.9770, 0.9730
 

Additional key levels

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.