USD/CHF Technical Analysis: USD/CHF ending the week in the red below the parity level

USD/CHF is continuing losing momentum as it is trading below its 200-period simple moving average and broke below the 0.9950-0.9961 area.
USD/CHF bull trend is in a consolidation phase as USD/CHF failed to recapture the 2018 high established last week at 1.0069.
While USD/CHF is at risk of a bearish reversal, it still has to overcome the 0.9856 support, June 25 low.

Flavio Tosti Independent Analyst

USD/CHF 15-minute chart

Spot rate: 0.9944
Relative change: -0.45%
High: 1.0012
Low: 0.9937

Trend: Bullish / bearish pullback

Resistance 1: 0.9950-0.9961 area, figure and June 21 open
Resistance 2: 0.9989-1.0000 area June 15 high and parity
Resistance 3: 1.0036 weekly high
Resistance 4: 1.0069 current 2018 high
Resistance 5: 1.0170 March 7, 2017 high
Resistance 6: 1.0343 December 15, 2016

Support 1: 0.9933 daily 50-period SMA
Support 2: 0.9920 intraday demand level
Support 3: 0.9900 figure
Support 4: 0.9856 June 25 low
Support 5: 0.9788 June 7 swing low

Author

Flavio Tosti

Independent Analyst

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