USD/CHF Technical Analysis: Hovering below the parity level
|- USD/CHF is struggling to find a clear direction on Wednesday as the pair is trading between 0.9940 and 0.9970 resistance.
- USD/CHF bulls objective is to reclaim the daily highs in order to reach the parity level and beyond while bears want to breakout below the 0.9920/25 area in order to create bearish momentum in the market.
- The overall bullish momentum is slightly slowing down as Wednesday attempt to breakout above parity didn’t surpass Monday’s attempt.
USD/CHF daily chart
Spot rate: 0.9944
Relative change: -0.13%
High: 0.9972
Low: 0.9937
Trend: Bullish / Bearish below 0.9920
Resistance 1: 0.9950 figure
Resistance 2: 0.9960-0.9970 area, supply level and July 27 high
Resistance 3: 0.9989-1.0000 area, June 15 high and parity
Resistance 4: 1.0043-1.0069 area, July 19 high and current 2018 high
Resistance 5: 1.0170 March 7, 2017 high
Resistance 6: 1.0343 December 15, 2016
Support 1 0.9920/25 area, August 3 low and daily 50 simple moving average
Support 2: 0.9900 figure
Support 3: 0.9867 July 31 low
Support 4: 0.9856 June 25 low
Support 5: 0.9788 June 7 swing low
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