- USD/CHF main bear trend remains intact despite USD/CHF finding some support after dropping to a new 5-month low.
- USD/CHF is trading below its 50, 100 and 200-period simple moving average suggesting a strong bearish momentum. The RSI indicator rebounded from the oversold condition as some bears took profits as USD/CHF dropped to a new 2018 low.
- The small USD/CHF rebound is likely to be sold into with the 0.9700 as main resistance to the upside. The bear target is located near (0.9580 April 17 low).
USD/CHF 4-hour chart
Spot rate: 0.9663
Relative change: 0.09%
Main trend: Bearish
Resistance 1: 0.9700 figure
Resistance 2: 0.9745-47, August 28 low, 200-day simple moving average
Resistance 3: 0.9768 September 4 swing high
Resistance 5: 0.9788 June 7 swing low (key level)
Resistance 6: 0.9807 August 22 low
Resistance 7: 0.9820 August 25 low
Support 1: 0.9650 August 29 low
Support 2: 0.9580 April 17 low
Support 3: 0.9500 figure
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.