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.

Flavio Tosti Independent Analyst

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

Author

Flavio Tosti

Independent Analyst

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