USD/CHF Price Analysis: Greenback grinds to fresh 2020 highs

USD/CHF starts the week by printing fresh 2020 highs.
The rising wedge formation can limit bullish advances.

Flavio Tosti Independent Analyst

USD/CHF daily chart

USD/CHF is easing after hitting new 2020 highs this Monday. The spot is trading below the 100/200-day simple moving averages suggesting an overall bearish momentum.

USD/CHF four-hour chart

The market broke above the 0.9800 figure while trading above the main SMAs. If buyers keep the market above the 0.9800 figure it might be considered as a bullish sign which can yield further gains above the 0.9830 and 0.9850 levels. On the flip side, a daily close below the 0.9800 figure could see a weakening of the market towards the 0.9770 level.

Resistance: 0.9830, 0.9850, 0.9870

Support: 0.9800, 0.9770, 0.9730

Additional key levels

USD/CHF

Overview
Today last price	0.9814
Today Daily Change	-0.0005
Today Daily Change %	-0.05
Today daily open	0.9819

Trends
Daily SMA20	0.9724
Daily SMA50	0.9743
Daily SMA100	0.9836
Daily SMA200	0.9864

Levels
Previous Daily High	0.9823
Previous Daily Low	0.9785
Previous Weekly High	0.9823
Previous Weekly Low	0.974
Previous Monthly High	0.9768
Previous Monthly Low	0.9613
Daily Fibonacci 38.2%	0.9808
Daily Fibonacci 61.8%	0.98
Daily Pivot Point S1	0.9795
Daily Pivot Point S2	0.9771
Daily Pivot Point S3	0.9757
Daily Pivot Point R1	0.9833
Daily Pivot Point R2	0.9847
Daily Pivot Point R3	0.9871

Author

Flavio Tosti

Independent Analyst

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