USD/CHF Technical Analysis: US Dollar currently supported at 0.9840 level

  • USD/CHF failed to break above Tuesday’s high and fell back near the 0.9840 level former congestion zone on Tuesday and near Monday’s low. The level is an important support and a bear breakout can open the gates towards 0.9788 last week’s low.
  • A reversal up from the current level would likely see a retest of the 0.9862 level with the 200-period simple moving average on the 15-minute chart.   

USD/CHF 15-minute chart

Spot rate:                   0.9848
Relative change:       -0.21%     
High:                          0.9896
Low:                           0.9840

Trend:                        Neutral to bullish

Resistance 1: 0.9862, 200-period SMA (15m)          
Resistance 2: 0.9896 current Wednesday’s high           
Resistance 3: 0.9884 May 29 swing high         

Support 1: 0.9829-0.9840 Tuesday’s low and former congestion zone               
Support 2: 0.9788 last week’s low                
Support 3: 0.9700 figure    

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