USD/CHF Technical Analysis: the pair climbed higher sharply above the 1.0100 resistance

FXOpen Broker Team FXOpen

The US Dollar climbed higher sharply above the 1.0100 and 1.0140 resistance levels against the Swiss Franc. The USD/CHF pair even broke the 1.0150 level and traded close to the 1.0165 level.

There was a close above the 1.0140 level and the 50 hourly simple moving average. The pair traded as high as 1.0163 and it is currently correcting lower towards the 1.0150 support and a bullish trend line on the hourly chart.

The pair could dip a few points towards the 1.0145 level on FXOpen UK and the 50 hourly SMA, but any further declines are very unlikely.

Once the current correction is complete, USD/CHF is likely to bounce back above 1.0160 and 1.0165. On the upside, the next main resistances are at 1.0180 and 1.0195. On the downside, a close below the 50 hourly SMA could push the pair towards the 1.0120 support.

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FXOpen Broker Team

FXOpen

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