USD/CHF Price Analysis: Approaching the peak of a triangle formation


  • The USD/CHF is approaching the peak of a two-month-old triangle formation.
  • Daily charts show the pair capped below triangle resistance, at 0.9730.

 

US dollar rebound from two-week lows at 0.9640 has been capped at 0.9735 where the pair has found resistance at the upper limit of the last two months’ triangle formation.

The daily chart shows the pair printing lower highs and higher lows, squeezed within ever-narrowing limits approaching the peak of a triangle shape. With the pair supported so far above the 50-day SMA, a daily close above trendline resistance, right now around 0.9730 would set the dollar aiming towards the 200-day SMA at 0.9785 on its way to March 23 highs at 0.9900.

On the downside, the 50 and 100-day SMA, at 0.9685/0.9700 are closing the path towards trendline support at 0.9650 and May 1 low at 0.9590.

 

USD/CHF daily chart

USD/CHF daily chart

 

USD/CHF key levels to watch

USD/CHF

Overview
Today last price 0.9723
Today Daily Change 0.0018
Today Daily Change % 0.19
Today daily open 0.9705
 
Trends
Daily SMA20 0.9709
Daily SMA50 0.9696
Daily SMA100 0.9687
Daily SMA200 0.9786
 
Levels
Previous Daily High 0.9713
Previous Daily Low 0.9645
Previous Weekly High 0.9755
Previous Weekly Low 0.9665
Previous Monthly High 0.9803
Previous Monthly Low 0.9595
Daily Fibonacci 38.2% 0.9687
Daily Fibonacci 61.8% 0.9671
Daily Pivot Point S1 0.9662
Daily Pivot Point S2 0.962
Daily Pivot Point S3 0.9594
Daily Pivot Point R1 0.973
Daily Pivot Point R2 0.9756
Daily Pivot Point R3 0.9798

 

 

 

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