USD/CHF Price Analysis: Dollar trading off 17-month lows, remains vulnerable vs. Swiss franc

USD/CHF is bouncing from its lowest point since September 2018.
As the up move can be short-lived, the level to beat for bears remains the 0.9680 level

Flavio Tosti Independent Analyst

USD/CHF daily chart

USD/CHF is trading below the main daily simple moving averages suggesting an overall bearish momentum in the long term. The spot bounced from 17-month lows however, the sellers should remain in control.

USD/CHF four-hour chart

USD/CHF is consolidating the weekly losses below the 0.9700 figure and the main SMAs on the four-hour chart. Although a correction above 0.9700 cannot be ruled out, the market remains vulnerable to the downside on a break below the 0.9660 level. Potential downside targets could be seen near the 0.9630 and 0.9580 levels while resistance can be expected near 0.9700 and 0.9730 levels.

Resistance: 0.9700, 0.9730, 0.9770

Support: 0.9660, 0.9630, 0.9580

Additional key levels

USD/CHF

Overview
Today last price	0.9679
Today Daily Change	-0.0016
Today Daily Change %	-0.17
Today daily open	0.9695

Trends
Daily SMA20	0.9764
Daily SMA50	0.9736
Daily SMA100	0.982
Daily SMA200	0.9851

Levels
Previous Daily High	0.9775
Previous Daily Low	0.9675
Previous Weekly High	0.9851
Previous Weekly Low	0.977
Previous Monthly High	0.9768
Previous Monthly Low	0.9613
Daily Fibonacci 38.2%	0.9713
Daily Fibonacci 61.8%	0.9737
Daily Pivot Point S1	0.9655
Daily Pivot Point S2	0.9615
Daily Pivot Point S3	0.9555
Daily Pivot Point R1	0.9755
Daily Pivot Point R2	0.9815
Daily Pivot Point R3	0.9856

Author

Flavio Tosti

Independent Analyst

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