USD/CHF technical analysis: Buck recovering and Swiss franc dumping help market recovering from monthly lows

Investors are dumping the safe-haven Swiss franc as the market mood is improving.
The level to beat for bulls are at 0.9790 and 0.9815 level.

Flavio Tosti Independent Analyst

USD/CHF daily chart

USD/CHF is trading off monthly lows below its main daily simple moving averages (DSMAs). Equity markets are recovering from the selloff seen on Monday as China has re-valued the yuan. Investors are selling the safe-haven Swiss franc and buying the greenback.

USD/CHF 4-hour chart

USD/CHF is bouncing from monthly lows while trading below its main SMAs. Bulls would be looking to extend the recovery beyond 0.9790 and 0.9815 resistances.

USD/CHF 30-minute chart

USD/CHF is trading above the 50 and 100 SMA, suggesting a pullback up in the near term. Immediate supports are near 0.9770 and 0.9755, according to the Technical Confluences Indicator.

Additional key levels

USD/CHF

Overview
Today last price	0.9781
Today Daily Change	0.0047
Today Daily Change %	0.48
Today daily open	0.9734

Trends
Daily SMA20	0.9869
Daily SMA50	0.989
Daily SMA100	0.9981
Daily SMA200	0.9976

Levels
Previous Daily High	0.9839
Previous Daily Low	0.9716
Previous Weekly High	0.9976
Previous Weekly Low	0.9814
Previous Monthly High	0.9952
Previous Monthly Low	0.978
Daily Fibonacci 38.2%	0.9763
Daily Fibonacci 61.8%	0.9792
Daily Pivot Point S1	0.9687
Daily Pivot Point S2	0.964
Daily Pivot Point S3	0.9563
Daily Pivot Point R1	0.981
Daily Pivot Point R2	0.9887
Daily Pivot Point R3	0.9934

Author

Flavio Tosti

Independent Analyst

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