USD/CHF technical analysis: Bulls await a sustained move beyond parity mark


  • Continued with its struggle to extend the momentum beyond the parity mark.
  • Despite the intraday pullback, the pair has managed to hold above 200-DMA.

The USD/CHF pair continued with its struggle to make it through the parity mark and witnessed a modest pullback on Wednesday, albeit held above the very important 200-day SMA.
 
Given the pair's repeated bounce from a support marked by the lower end of a two-month-old ascending trend-channel, the near-term bias remains tilted in favour of bullish traders.
 
Moreover, oscillators maintained the bullish territory 4-hourly/daily charts and support prospects for some dip-buying interest near the trend-channel support – around the 0.9940 region.
 
However, traders are likely to wait for a sustained move beyond the 1.10 handle before positioning for any further appreciating move back towards the recent swing highs near the 1.0025-30 region.
 
The pair could then extend the momentum further, though is likely to confront stiff resistance near the top end of the mentioned trend-channel, currently near the 1.0100 round-figure mark.
 
Conversely, a decisive break below the trend-channel support might turn the pair vulnerable to break below the 0.9900 handle and aim towards testing the 0.9860-55 support area.

USD/CHF daily chart

fxsoriginal

USD/CHF

Overview
Today last price 0.9977
Today Daily Change -0.0009
Today Daily Change % -0.09
Today daily open 0.9986
 
Trends
Daily SMA20 0.9944
Daily SMA50 0.9876
Daily SMA100 0.988
Daily SMA200 0.9955
 
Levels
Previous Daily High 0.9997
Previous Daily Low 0.9962
Previous Weekly High 0.9991
Previous Weekly Low 0.9904
Previous Monthly High 0.9988
Previous Monthly Low 0.9797
Daily Fibonacci 38.2% 0.9984
Daily Fibonacci 61.8% 0.9975
Daily Pivot Point S1 0.9966
Daily Pivot Point S2 0.9947
Daily Pivot Point S3 0.9931
Daily Pivot Point R1 1.0001
Daily Pivot Point R2 1.0017
Daily Pivot Point R3 1.0036

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!


Latest Forex News

Editors’ Picks

EUR/USD pressured around 1.13 after jump in US jobs

EUR/USD is trading around 1.13, down after US Non-Farm Payrolls shocked with a leap of 2.5 million jobs in May, contrary to all projections. The greenback is gaining while stocks are falling, a correlation breakdown. ECB stimulus previously supported the euro.

EUR/USD News

GBP/USD retreats from highs

GBP/USD is trading below 1.27, off the highs. The pound is struggling after Chief EU Negotiator Barnier reported little progress in Brexit talks. Robust US jobs support the dollar.

GBP/USD News

Gold sees weekly closing below $1700 - a caution for bulls

The steady decline in Gold prices (futures on Comex) accelerated on Friday, as the rates closed the week below the 1700 mark for the first time in three weeks at 1688.35. A weekly closing below the key 1700 level is unlikely to bode well for the bulls.

Gold News

Institutional demand exceeds Bitcoins supply

Greyscale floods the market with fresh money to satisfy the demand of its clients. Investors, willing to pay a 29% surcharge for exposure to Bitcoin without suffering the legal and operational inconveniences. Market remains at risk on the verge of new bullish territory.

Read more

WTI rallies above $39 as focus shifts to OPEC+ meeting

Crude oil prices built on Thursday's modest gains and rose sharply on Friday boosted by the upbeat market mood optimism surrounding Saturday's OPEC+ meeting. 

Oil News

Forex MAJORS

Cryptocurrencies

Signatures