USD/CHF technical analysis: Greenback reverses daily gains against CHF, trading sub-0.9955 resistance

08/01/2019 15:31:51 GMT|ByFlavio Tosti

USD/CHF is erasing parts of the Fed-inspired gains.
The correction down can extend to 0.9915, 0.9895 and 0.9860, according to the Technical Confluences Indicator.

USD/CHF daily chart

USD/CHF attempted to break above July tops but is now retreating and reversing the daily gains. The market is trading below its 100/200 daily simple moving averages (DSMAs), suggesting a bearish bias.

USD/CHF 4-hour chart

USD/CHF is trading above its main SMAs, suggesting bullish momentum in the medium term. However bull will need to regain the 0.9955 level if they want to continue their ascent towards 0.9990 and the parity level, according to the Technical Confluences Indicator.

USD/CHF 30-minute chart

USD/CHF is trading below the 0.9955 resistance and the 50 SMA suggesting a correction down in the near term. The pullback down can extend towards 0.9915, 0.9895 and 0.9860, according to the Technical Confluences Indicator.

Additional key levels

USD/CHF

Overview
Today last price	0.994
Today Daily Change	0.0001
Today Daily Change %	0.01
Today daily open	0.9939

Trends
Daily SMA20	0.9881
Daily SMA50	0.9903
Daily SMA100	0.9987
Daily SMA200	0.9978

Levels
Previous Daily High	0.9951
Previous Daily Low	0.9885
Previous Weekly High	0.9947
Previous Weekly Low	0.9804
Previous Monthly High	0.9952
Previous Monthly Low	0.978
Daily Fibonacci 38.2%	0.9926
Daily Fibonacci 61.8%	0.991
Daily Pivot Point S1	0.9899
Daily Pivot Point S2	0.9859
Daily Pivot Point S3	0.9833
Daily Pivot Point R1	0.9965
Daily Pivot Point R2	0.9991
Daily Pivot Point R3	1.0031

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