USD/CHF technical analysis: Safe-haven flows strengthens the Swiss franc

China imposes trade tariffs on the US and the CHF and JPY strengthen as investors jump into so-called safe-haven currencies.
USD/CHF has been dropping sharply in the last sessions, can the bears keep going?

Flavio Tosti Independent Analyst

USD/CHF daily chart

USD/CHF is retracing down sharply as it testing the 1.0050 level and the 50 SMA.

USD/CHF 4-hour chart

USD/CHF is trading below its main SMAs suggesting a bearish bias in the medium term.

USD/CHF 30-minute chart

The selling pressure has been consistent since last Thursday. Sellers will try to pierce below 1.0050 top reach 1.0025 and the parity level. On the flip side, bulls will try to recapture 1.0080 and 1.0100 levels. Buyers would need to bring the market above 1.0120 to be out of the woods.

Additional key levels

USD/CHF

Overview
Today last price	1.0062
Today Daily Change	-0.0056
Today Daily Change %	-0.55
Today daily open	1.0118

Trends
Daily SMA20	1.0162
Daily SMA50	1.0067
Daily SMA100	1.0004
Daily SMA200	0.9947

Levels
Previous Daily High	1.0159
Previous Daily Low	1.01
Previous Weekly High	1.0227
Previous Weekly Low	1.01
Previous Monthly High	1.0238
Previous Monthly Low	0.9932
Daily Fibonacci 38.2%	1.0123
Daily Fibonacci 61.8%	1.0137
Daily Pivot Point S1	1.0093
Daily Pivot Point S2	1.0067
Daily Pivot Point S3	1.0034
Daily Pivot Point R1	1.0151
Daily Pivot Point R2	1.0184
Daily Pivot Point R3	1.021

Author

Flavio Tosti

Independent Analyst

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