USD/CHF rally halts at 0.9800 resistance level

USD/CHF ends a four-day rally at 0.9800 resistance area.
Moderate risk appetite has weighed on the US dollar
Technical indicators show pair biased higher in short and medium-term charts

Guillermo Alcala FXStreet

The US dollar has been going through a steady upward trend against the Swiss franc this week. The greenback extended its rebound from mid-April lows at 0.9590, to regain all the ground lost over the previous week, although it has been unable to break resistance at 0.9800 area and has retreated to the mid-range of 0.9700.

US dollar loses steam as risk appetite picks up

The dollar has eased across the board on Friday, with the US Dollar Index ending a four-day winning streak. The moderate risk appetite witnessed in the markets has undermined safe-havens like the US dollar, which has not found support on the US macroeconomic data today.

Orders for durable goods produced in the US, a forward-looking indicator for Industrial activity, plummeted 14.4% in March, the deepest decline over the last six years.

Technical indicators: USD/CHF remains bullish in the short-term

Despite the recent pullback from 0.9800, the pair remains trading within a clear upward trending channel, above the main SMAs on the 4-hour chart. If the pair manages to confirm above the mentioned 0.9800 (Apr 3,6,7 highs), it might aim for 0.9900 (Mar 22, 23 highs) before late 2019 highs at 1.0025 area. On the downside, immediate support lies now at 0.9735 (20 EMA in 4-hour chart) and below there, 0.9590 (Apr 14,15 lows) and 0.9505 (Mar 27, 30 lows).

USD/CHF key levels to watch

USD/CHF

Overview
Today last price	0.9751
Today Daily Change	-0.0009
Today Daily Change %	-0.09
Today daily open	0.976

Trends
Daily SMA20	0.9676
Daily SMA50	0.9665
Daily SMA100	0.9704
Daily SMA200	0.9797

Levels
Previous Daily High	0.9772
Previous Daily Low	0.9706
Previous Weekly High	0.9724
Previous Weekly Low	0.9595
Previous Monthly High	0.9902
Previous Monthly Low	0.9183
Daily Fibonacci 38.2%	0.9747
Daily Fibonacci 61.8%	0.9731
Daily Pivot Point S1	0.9719
Daily Pivot Point S2	0.9679
Daily Pivot Point S3	0.9652
Daily Pivot Point R1	0.9786
Daily Pivot Point R2	0.9813
Daily Pivot Point R3	0.9853

Author

Guillermo Alcala

FXStreet

Graduated in Communication Sciences at the Universidad del Pais Vasco and Universiteit van Amsterdam, Guillermo has been working as financial news editor and copywriter in diverse Forex-related firms, like FXStreet and Kantox.

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