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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Forex: USD/CHF Technical Analysis – Foothold Above 0.88 Reclaimed

Forex: USD/CHF Technical Analysis – Foothold Above 0.88 Reclaimed

Ilya Spivak, Head Strategist, APAC

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

Talking Points:

  • USD/CHF Technical Strategy: Flat
  • Support: 0.8776 (Feb 28 low)
  • Resistance: 0.8848-66 (Dec’13 bottom, 23.6% Fib ret.), 0.8898 (trend line)

The US has managed to claw back some lost ground against the Swiss Franc, with prices reclaiming a foothold above the 0.88 figure.Resistance is in the 0.8848-66 area, marked by the December 2013 closing bottom and the 23.6% Fibonacci retracement. A break above this barrier exposes a falling trend line at 0.8898 and the 38.2% level at 0.8921. Near-term support is at 0.8776, the February 28 low.

Prices are too close to relevant resistance to justify a long position from a risk/reward perspective. On the other hand, a short position would presume resistance will necessarily hold, which is a baseless assumption thus far. We will remain flat for now until the pair offers a more attractive setup.

Confirm your chart-based trade setups with the Technical Analyzer. New to FX? Start Here!

dailyclassics_usd-chf_body_Picture_11.png, Forex: USD/CHF Technical Analysis – Foothold Above 0.88 Reclaimed

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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