USD/CHF Technical Analysis: Swissy having small pullback below parity after 76-pip gain, trading at 7-week high

  • USD/CHF has broken to the upside from a triangle formation on the daily chart, suggesting further gains can be on the cards. 
  • USD/CHF has broken above the parity level as it reached a daily high at 1.0025, one pip shy from the 1.0026 May 11 open . USD/CHF is currently having a shallow pullback just above 1.0000.
  • USD/CHF bulls next objective is to conclusively break above 1.0000 to then target 1.0026 May 11 open and 1.0056, the current 2018 high.

USD/CHF 15-minute chart 

Spot rate:                  1.0012
Relative change:       0.53%     
High:                         1.0025
Low:                          0.9946

Trend:                       Bullish

Resistance 1:           1.0000 figure
Resistance 2:           1.0026 May 11 open
Resistance 3:           1.0056 current 2018 high

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

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.