USD/CHF Technical Analysis: surges through parity mark for the first time since May

   •  Finally breaks through a four-week-old trading range, triggering a short-covering rally beyond parity mark to the highest level since May 17.

   •  Daily RSI holds comfortably in positive territory but MACD is yet to catch up and hence, bulls might take a brief pause before extending the momentum.

   •  The bullish trajectory could get extended even beyond one-year tops set in May, towards 61.8% Fibonacci expansion level of the April-May up-swing and subsequent retracement. 

USD/CHF daily chart

Spot rate: 1.0015
Daily Low: 0.9948
Trend: Bullish

Resistance
R1: 1.0045 (R3 daily pivot-point)
R2: 1.0057 (1-year tops set in May)
R3: 1.0100 (round figure mark)

Support
S1: 0.9990 (trading range resistance break-point)
S2: 0.9944 (50-period SMA H1)
S3: 0.9920 (S1 daily pivot-point)
 

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 securities. 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 Forex 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.