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.  

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


Today last price 0.9772
Today Daily Change -0.0003
Today Daily Change % -0.03
Today daily open 0.9775
Daily SMA20 0.9695
Daily SMA50 0.9753
Daily SMA100 0.9842
Daily SMA200 0.9874
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



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