USD/CHF Price Analysis: Rising wedge can halt the bulls

USD/CHF created a rising wedge pattern suggesting potential exhaustion in the medium term.
The level to beat for bears is the 0.9770 support.

Flavio Tosti Independent Analyst

USD/CHF daily chart

USD/CHF is pulling back down slightly from the 2020 highs while reintegrating Friday’s range. The spot is trading below the 100/200-day simple moving averages suggesting an overall bearish bias.

USD/CHF four-hour chart

USD/CHF is trading in a rising wedge pattern suggesting the market might be exhausting itself. If the bears break the 0.9770 support on a daily basis, the spot could decline towards the 0.9730 and 0.9710 price levels. On the flip side, if the buyers surpass the 0.9800 figure the quote could continue trending to the upside towards the 0.9830/50 levels.

Resistance: 0.9800, 0.9830, 0.9850

Support: 0.9770, 0.9730, 0.9710

Additional key levels

USD/CHF

Overview
Today last price	0.9772
Today Daily Change	-0.0003
Today Daily Change %	-0.03
Today daily open	0.9775

Trends
Daily SMA20	0.9695
Daily SMA50	0.9753
Daily SMA100	0.9842
Daily SMA200	0.9874

Levels
Previous Daily High	0.9782
Previous Daily Low	0.9739
Previous Weekly High	0.9782
Previous Weekly Low	0.9629
Previous Monthly High	0.9768
Previous Monthly Low	0.9613
Daily Fibonacci 38.2%	0.9766
Daily Fibonacci 61.8%	0.9755
Daily Pivot Point S1	0.9749
Daily Pivot Point S2	0.9722
Daily Pivot Point S3	0.9706
Daily Pivot Point R1	0.9792
Daily Pivot Point R2	0.9808
Daily Pivot Point R3	0.9835

Author

Flavio Tosti

Independent Analyst

GBP/USD revisits 1.3530; Dollar pushes harder

GBP/USD adds to the weekly correction and recedes toward the 1.3530 zone on Friday. Indeed, Cable faces increasing selling pressure on the back of extra gains in the Greenback, particularly fuelled by Chair Warsh’s speech at the Jackson Hole Symposium and the US NFP Annual Revision (-79K).

EUR/USD breaches below 1.1600, multi-day lows

EUR/USD now accelerates its decline and retreats to seven-day troughs in the sub-1.1600 region at the end of the week. The pair’s pullback comes on the back of the strong rebound in the US Dollar after Chair Warsh delivered a hawkish message in Jackson Hole, while the US NFP Annual Revision came in at -79K.

Gold challenges its 200-day SMA near $4,530

Gold’s decline gathers fresh steam, hitting weekly lows while disputing its critical 200-day SMA near $4,530 per troy ounce. The yellow metal’s increasing weakness comes in response to the generalised upbeat tone in the US Dollar and the widespread rebound in US Treasury yields, as investors continue to reprice a Fed rate hike in September.

Crypto Today: Bitcoin, Ethereum, XRP rally loses steam despite steady ETF inflows

Bitcoin is back below $80,000 at the time of writing on Friday, after a second attempt at breaking resistance between $81,000 and $82,000. Meanwhile, Ethereum and Ripple mirror Bitcoin’s cooling trend, with ETH sliding to $2,500 and XRP falling toward $1.40 support.

Week ahead – RBNZ and BoC decide on rates ahead of all-important US NFP

Dollar rebounds ahead of ISM PMI and NFP data. RBNZ is expected to raise rates; focus to fall on forward guidance. BoC is set to remain on hold; will it raise rates in 2027?

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.