USD/CHF technical analysis: Bulls eyeing a move towards reclaiming parity mark, FOMC awaited


  • Bulls struggle to extend the momentum beyond 200-DMA/50% Fibo. confluence region.
  • The much-awaited FOMC monetary policy decision eyed for a fresh bullish confirmation.

The USD/CHF pair held on to its goodish intraday gains and is currently placed near multi-week tops, around mid-0.9900s, as investors start repositioning for the highly anticipated FOMC monetary policy decision.
 
The mentioned region marks a confluence resistance - comprising of 50% Fibo. level of the 1.0238-0.9659 and the very important 200-day SMA - and is followed by the top end of a six-week-old ascending trend-channel.
 
Meanwhile, technical indicators on hourly/daily charts maintained their positive bias and support prospects for a further appreciating move, though bulls are likely to wait for a sustained move beyond the trend-channel resistance.
 
The mentioned barrier- currently near the key 1.0000 psychological mark - coincides with 61.8% Fibo. level, which if cleared might be seen as a fresh trigger for bullish traders and set the stage for a move up towards the 1.0100 handle.
 
On the flip side, immediate support is pegged near the 0.9925 horizontal zone ahead of the 0.9900 handle, which if broken might accelerate the fall further towards the trend-channel support, currently near mid-0.9800s.

USD/CHF daily chart

fxsoriginal

USD/CHF

Overview
Today last price 0.9955
Today Daily Change 0.0024
Today Daily Change % 0.24
Today daily open 0.9931
 
Trends
Daily SMA20 0.9867
Daily SMA50 0.9842
Daily SMA100 0.9914
Daily SMA200 0.995
Levels
Previous Daily High 0.9969
Previous Daily Low 0.9912
Previous Weekly High 0.9947
Previous Weekly Low 0.9854
Previous Monthly High 0.9976
Previous Monthly Low 0.9659
Daily Fibonacci 38.2% 0.9947
Daily Fibonacci 61.8% 0.9934
Daily Pivot Point S1 0.9906
Daily Pivot Point S2 0.988
Daily Pivot Point S3 0.9849
Daily Pivot Point R1 0.9963
Daily Pivot Point R2 0.9994
Daily Pivot Point R3 1.002

 

 

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 ahead of Barnier's speech, NFP

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: Dives to fresh 1-month tops on stellar NFP report

Gold witnessed some aggressive selling in reaction to upbeat NFP report. Surging US bond yields, stronger USD contributed to the bearish pressure. A break below 50-day SMA might have paved the way for a further slide.

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 refreshes multi-month tops above $38, OPEC+ to meet Saturday

WTI (July futures on Nymex) hit a new three-month high at 38.27 in the last hour, now consolidating the latest uptick just above 38.00, up nearly 2% on the day.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures