Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Free Trading Guides
Subscribe
Please try again
Select

Live Webinar Events

0

Economic Calendar Events

0

Notify me about

Live Webinar Events
Economic Calendar Events

H

High

M

Medium

L

Low
More View More
USD/CHF Technical Analysis: Rejected Lower Above 0.97

USD/CHF Technical Analysis: Rejected Lower Above 0.97

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • USD/CHF Technical Strategy: Flat
  • Support:0.9428, 0.9213, 0.8997
  • Resistance: 0.9756, 0.9921, 1.0188

The US Dollar stalled below the 0.98 figure against the Swiss Franc, snapping two days of consecutive gains. A daily close above the 14.6% Fibonacciexpansionat 0.9756 exposes the 23.6% level at 0.9921. Alternatively, a turn below the 38.2% Fib retracementat 0.9428opens the door for a test of the 50% threshold at 0.9213.

Prices are too close to resistance to justify entering long from a risk/reward perspective. On the other hand, the absence of a defined bearish reversal signal suggests that taking up the short side is premature. With that in mind, we will remain flat for now.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

Daily Chart - Created Using FXCM Marketscope

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES