USD/CHF Price Analysis: Dollar hits resistance at 0.9645 previous support

USD/CHF rebound from 0.9540 has been capped at 0.9650.
The dollar has failed to confirm above previous support turned resistance at 0.9645.
The pair remains biased lower, trading below the main SMAs on the daily chart.

Guillermo Alcala FXStreet

The US dollar has bounced up from 2-month lows at 0.9540 to pare losses against the Swiss franc. The pair has regained lost ground amid broad-based dollar strength following an unexpected increase on US NFP data and returned above 0.9600 to be capped at previous support around 0.9645 area.

The daily chart shows the dollar still biased to the downside, moving below the main moving averages. Above 0.9645 (May 20, 26 lows), the USD/CHF might find a resistance hurdle at the 0.9680/90 area where the 50 and 100 SMAs meet trendline resistance from late March tops and then the 200 SMA, at 0.9775.

On the downside, immediate support lies at 0.9540 (Intra-day low) and below here, March, 30 low at 0.9500 and March 17 low at 0.9450.

USD/CHF daily chart

USD/CHF key levels to watch

USD/CHF

Overview
Today last price	0.9625
Today Daily Change	0.0070
Today Daily Change %	0.73
Today daily open	0.9555

Trends
Daily SMA20	0.9675
Daily SMA50	0.9683
Daily SMA100	0.9682
Daily SMA200	0.9778

Levels
Previous Daily High	0.9624
Previous Daily Low	0.9544
Previous Weekly High	0.9736
Previous Weekly Low	0.9602
Previous Monthly High	0.9784
Previous Monthly Low	0.9589
Daily Fibonacci 38.2%	0.9574
Daily Fibonacci 61.8%	0.9593
Daily Pivot Point S1	0.9524
Daily Pivot Point S2	0.9494
Daily Pivot Point S3	0.9444
Daily Pivot Point R1	0.9605
Daily Pivot Point R2	0.9655
Daily Pivot Point R3	0.9685

Author

Guillermo Alcala

FXStreet

Graduated in Communication Sciences at the Universidad del Pais Vasco and Universiteit van Amsterdam, Guillermo has been working as financial news editor and copywriter in diverse Forex-related firms, like FXStreet and Kantox.

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