USD/CHF Technical Analysis: Swissy prints new 2018 high then erases daily gains

  • USD/CHF reversed all its gains made on Friday after it reached a new 2018 high at 1.0069.
  • USD/CHF is now consolidating above the parity level which should act as support. 
  • The bull momentum of the last few days was strong and more bullishness might persist at the start of next week with 1.0069 current 2018 high and 1.0170 March 7, 2017 high as target for bulls.

USD/CHF 15-minute chart 

Spot rate:                  1.0024
Relative change:       0.01%     
High:                         1.0069
Low:                          1.0014

Trend:                       Bullish

Resistance 1:           1.0026 May 11 open
Resistance 2:           1.0069 current 2018 high
Resistance 3:           1.0170 March 7, 2017 high
Resistance 4:           1.0343 December 15, 2016

Support 1:                1.0000 figure
Support 2:                0.9989-1.0000 area June 15 high and parity
Support 3:                0.9950-0.9961 figure and June 21 open
Support 4:                0.9933 daily 50-period SMA 
Support 5:                0.9920 intraday demand level
Support 6:                0.9900 figure
Support 7:                0.9856 June 25 low
Support 8:                0.9788 June 7 swing low

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