USD/CHF Technical Analysis: Greenback bulls nearing parity

USD/CHF is trading in a bull trend above the 200-period simple moving average.
USD/CHF bulls have been knocking at the August high but without being able to beak above the level so far.
Given the strong bull momentum, the bulls could reach the parity level but they would need to keep the market above 0.9950 figure or else a pullback may be on the cards below this level.

Flavio Tosti Independent Analyst

USD/CHF 4-hour chart

Spot rate: 0.9966
Relative change: 0.1%
High: 0.9978
Low: 0.9949

Main trend: Bullish

Resistance 1: 0.9986 August high
Resistance 2: 1.0000 parity level
Resistance 3: 1.0068 July 13 high

Support 1: 0.9950 figure
Support 2: 0.9891 October 4 low
Support 3: 0.9868 July 31 low
Support 4: 0.9820 August 25 low
Support 5: 0.9807 August 22 low
Support 6: 0.9788 June 7 swing low (key level)
Support 7: 0.9768 September 4 swing high

Author

Flavio Tosti

Independent Analyst

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