USD/CHF Technical Analysis: USD/CHF bulls show sign of life above 0.9920 level

  • USD/CHF bulls tried to breakout above 0.9960-0.9970 area in early European trade but the market has since retraced and USD/CHF is trading near the 0.9950 figure. 
  • USD/CHF bulls are managing to keep the market afloat above the 0.9920 level and their objective is to end the consolidation phase by breaking above 0.9989-1.0000 area. 
  • Targets to the upside are seen near 1.0043-1.0069 area and then 1.0170 March 7, 2017 high. 

USD/CHF 15-minute chart 

USD/CHF daily chart 

Spot rate:                  0.9945
Relative change:       0.10%     
High:                         0.9976
Low:                          0.9926

Trend:                       Bullish 

Resistance 1:           0.9960-0.9970 area, supply level and July 27 high
Resistance 2:           0.9989-1.0000 area, June 15 high and parity
Resistance 3:           1.0043-1.0069 area, July 19 high and current 2018 high
Resistance 4:           1.0170 March 7, 2017 high
Resistance 5:           1.0343 December 15, 2016

Support 1:                0.9950 figure
Support 2:                0.9920/25 area, August 3 low and daily 50 simple moving average
Support 3:                0.9900 figure
Support 4:                0.9867 July 31 low
Support 5:                0.9856 June 25 low
Support 6:                0.9788 June 7 swing low

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