USD/CHF Price Analysis: Greenback retraces down below the 0.9700 figure

USD/CHF is under mild selling pressure in the New York session.
Support is seen at the 0.9652 level.

Flavio Tosti Independent Analyst

USD/CHF daily chart

USD/CHF is attempting to rebound from multi-month lows while trading well below its main daily simple moving averages.

USD/CHF four-hour chart

The market is trading in a rising wedge channel while bears are rejecting the 0.9700 figure. Sellers might try to bring the market down to the 0.9652 support. If this level breaks under the selling pressure 0.9615 can become next on the bears’radar. However, if the greenback is able to hold its ground near current levels, bulls can try to break the 0.9742 resistance and target the 0.9790/0.9820 resistance zone, according to the Technical Confluences Indicator.

Additional key levels

USD/CHF

Overview
Today last price	0.9692
Today Daily Change	0.0006
Today Daily Change %	0.06
Today daily open	0.9686

Trends
Daily SMA20	0.9707
Daily SMA50	0.9814
Daily SMA100	0.9867
Daily SMA200	0.9905

Levels
Previous Daily High	0.9691
Previous Daily Low	0.9661
Previous Weekly High	0.9738
Previous Weekly Low	0.9613
Previous Monthly High	1.0009
Previous Monthly Low	0.9646
Daily Fibonacci 38.2%	0.968
Daily Fibonacci 61.8%	0.9672
Daily Pivot Point S1	0.9668
Daily Pivot Point S2	0.9649
Daily Pivot Point S3	0.9638
Daily Pivot Point R1	0.9698
Daily Pivot Point R2	0.9709
Daily Pivot Point R3	0.9728

Author

Flavio Tosti

Independent Analyst

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