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.

Free Trading Guides
Oil - US Crude
More View more

DailyFX PLUS Content Now Available Freely to all DailyFX Users

Real Time News
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: 0.05% Oil - US Crude: -0.38% Silver: -0.41% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/9AiehtJMsK
  • The Norwegian Krone and crude #oil prices will be in for turbulent week ahead of an avalanche of central bank rate decisions against the backdrop of political volatility in the middle east. Get your market update from @ZabelinDimitri here: https://t.co/1PKtivOiFv #OOTT https://t.co/IdHpQbAgNe
  • Fantastic thread on the #Fed including explainer on recent repo market cash crunch PS - I highly encourage giving @Trinhnomics a follow https://t.co/GYwqXuTfjY
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: -0.04% 🇪🇺EUR: -0.04% 🇬🇧GBP: -0.06% 🇯🇵JPY: -0.09% 🇦🇺AUD: -0.20% 🇳🇿NZD: -0.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/x5I15C64eW
  • #USDJPY's uptrend has stalled, probably while the market awaits the #Fed. It's looking a little stretched but not seriously threatened. https://www.dailyfx.com/forex/technical/home/analysis/usd-jpy/2019/09/18/Japanese-Yen-Remains-Defensive-As-Dollar-Bulls-Eye-Key-Resistance-.html?utm_source=Twitter&utm_medium=Cottle&utm_campaign=twr
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.68%, while traders in France 40 are at opposite extremes with 81.16%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/k2BRFZYdBl
  • 🇦🇺 AUD Unemployment Rate (AUG), Actual: N/A Expected: 5.2% Previous: 5.2% https://www.dailyfx.com/economic-calendar#2019-09-19
  • Cautious "risk-off" tilt at early phase of Wednesday's session. Pro-risk #AUD and #NZD falling alongside #Nikkei225 futures as haven-linked #USD rises. Follow-through may be lacking until the #Fed passes later today https://t.co/0TLRTELdWv
  • How can traders avoid #FOMOintrading? Start by implementing a well-heeled plan taking only four hours per week. Get your insight from @JStanleyFX here: https://t.co/vwUShQPc27 https://t.co/DRa1lwjBWp
  • RT @NickTimiraos: There will be a temptation to call any resumption of balance sheet expansion by the Fed quantitative easing, which isn't…
USD/CHF Price Outlook: Trading Levels to Watch

USD/CHF Price Outlook: Trading Levels to Watch

2019-05-07 17:00:00
Mahmoud Alkudsi, Market Analyst

USD/CHF Technical Analysis.

Eyes on CHF Job Market Data Tomorrow.

USD/CHF Stuck in a Narrow Range for Now.

See the Q2 USD forecast to learn what is likely to drive price action through mid-year.

See the DailyFX Economic Calendar for a comprehensive look at all latest data releases.

USD/CHF Daily Price Chart (Oct 2018 – May 07, 2019)


Price Trading in a Sideways Pattern - Failing at 1.0215

  • Since April 23rd USD/CHF has been testing almost everyday the 1.0215 level and failing to close above, showing Weakness in the Upward Trend Momentum. On May 1st, the pair declined breaking below 1.0134 to print 1.0126 (its lowest level in nearly 2 weeks) however, prices closed inside the trading range with sellers likely taking profit.
  • On Friday May 3rd, prices were rejected at the resistance level 1.0215, and today May 7th prices are again testing the resistance zone between 1.0215 and 1.0218 (Up-trend line originated from Jan 10th low) so any failure in closing above suggests staying in the range and eying its lower side located at 1.0134. Support levels at 1.0185, 1.0174, 1.0161 and zone between 1.0148 – 1.0142 need to be monitored along the way.
  • On Relative Strength Indicator, we notice a formation of Top Failure Swing suggesting a bearish bias if the indicator reading falls below 58.4 as shown on the chart.

What If USD/CHF close above 1.0215?

A bullish sentiment would suggest a push towards 1.0286. Resistance at 1.0230 with the zone between 1.0250 – 1.0257 and 1.0278 need to be in focus.

USD/CHF 2 Hours Price Chart (May07, 2019)


Bullish Development

  • In a fresh push today, USD/CHF broke through 1.0215 printing 1.0222 (highest levels in 10 days) eying 1.0230 therefore, if prices break higher and remain above 1.0230, the next significant resistance would be at 1.0250 although 1.0238 would need to be cleared first.
  • If USD/CHF pulled back to trade below 1.0196, it would suggest a bearish sentiment, hinting prices might move towards the 1.0161 support zone between 1.0185 – 1.0183. In addition, 1.0174 will be targeted along the way.

Written By: Mahmoud Alkudsi

Please feel free to contact me on Twitter: @Malkudsi

Having trouble with your trading strategy?Here’s the #1 mistake that traders make

Just getting started?See our beginners’ guide for FX traders

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


News & Analysis at your fingertips.