USD/CHF Technical Analysis: USD/CHF bulls breaking above 0.9800 figure

USD/CHF is trending up as it is trading above its 50 and 200-day simple moving average.
USD/CHF is trading well above its 50, 100 and 200-period simple moving average while the RSI, MACD and Stochastics indicators are in bullish mode, suggesting continued strength on USD/CHF.
USD/CHF targets are located near 0.9868(July 31 low) and 0.9984 (August 15 high). A bear breakout below 0.9700 would invalidate the current bullish momentum.

Flavio Tosti Independent Analyst

USD/CHF 4-hour chart

Spot rate: 0.9818
Relative change: 0.45%
High: 0.9818
Low: 0.9737

Main trend: Bullish

Resistance 1: 0.9807 August 22 low
Resistance 2: 0.9820 August 25 low
Resistance 3: 0.9868 July 31 low
Resistance 4: 0.9984 August 15 high

Support 1: 0.9788 June 7 swing low (key level)
Support 2: 0.9768 September 4 swing high
Support 3: 0.9745-47, August 28 low, 200-day simple moving average
Support 4: 0.9700 figure

Author

Flavio Tosti

Independent Analyst

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