USD/CHF Price Analysis: Breach of 0.9420/30 support would activate an H&S pattern


  • USD/CHF finds support at 0.9430 but remains heavy at the mid-range of 0.9400.
  • Below 0.9420 the pair would activate an H&S pattern aiming towards 0.9375 and 0.9325.

US dollar’s reversal from Tuesday’s high at 0.9530 has found support at 0.9420 on Thursday although the pair remains heavy on the short-term, capped below 0.9460 area. The 4-hour charts show the USD/CHF moving near the neckline of a head and shoulders pattern that would be activated below June 23 lows, at 0.9420.  

Below the mentioned 0.9420/30 (Jun. 23 low, intra-day low) next potential support would be 0.9375 (Jun. 11 low) and then 0.9325 (March 11 low).

On the upside, immediate resistance lies at 0.9495 (Jul. 1 low). Above here, the next potential resistance could be at 0.9530 (Jun. 30 low) and 0.9585 (Jun. 9 high).

USD/CHF 4-hour chart

USD/CHF 4-hour chart

USD/CHF key levels to watch

USD/CHF

Overview
Today last price 0.9459
Today Daily Change 0.0001
Today Daily Change % 0.01
Today daily open 0.9458
 
Trends
Daily SMA20 0.95
Daily SMA50 0.9616
Daily SMA100 0.9641
Daily SMA200 0.9739
 
Levels
Previous Daily High 0.9494
Previous Daily Low 0.9445
Previous Weekly High 0.9527
Previous Weekly Low 0.942
Previous Monthly High 0.9651
Previous Monthly Low 0.9376
Daily Fibonacci 38.2% 0.9464
Daily Fibonacci 61.8% 0.9475
Daily Pivot Point S1 0.9437
Daily Pivot Point S2 0.9417
Daily Pivot Point S3 0.9388
Daily Pivot Point R1 0.9487
Daily Pivot Point R2 0.9515
Daily Pivot Point R3 0.9536

 

 

 

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