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
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Bullish
Gold
Bullish
GBP/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bearish
More View more
Real Time News
  • #Bitcoin prices may see a pickup in volatility ahead of the 2020 halving as the #coronavirus pandemic threatens to disrupt cross-continental $BTC mining operations. Get your market update from @ZabelinDimitri here: https://t.co/BoH24MVf4P https://t.co/yuEA4wdlS9
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.06% 🇳🇿NZD: -0.05% 🇨🇦CAD: -0.17% 🇨🇭CHF: -0.48% 🇯🇵JPY: -0.61% 🇬🇧GBP: -0.87% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/hOyPH71ZfE
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.85% France 40: 1.47% US 500: 0.46% Wall Street: 0.38% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/UxILaRvSdH
  • 🇨🇭 CHF Retail Sales Real (YoY) (FEB), Actual: 0.3% Expected: N/A Previous: -0.1% https://www.dailyfx.com/economic-calendar#2020-03-31
  • Missed today's #AUDUSD weekly outlook webinar? See the recording here - https://t.co/6k1KCuxr50 Some of the topics discussed were: - #coronavirus economic impact - #Fed #QE as catalyst for AUD rise - scope for renewed #USD gains
  • RT @DailyFXEspanol: Análisis del $XAUUSD: El precio del oro se estanca, ¿qué nos dice el gráfico? #trading #covid19 https://t.co/7x2Zdt0AnA…
  • USD/CAD IG Client Sentiment: Our data shows traders are now net-long USD/CAD for the first time since Jan 22, 2020 when USD/CAD traded near 1.31. A contrarian view of crowd sentiment points to USD/CAD weakness. https://www.dailyfx.com/sentiment https://t.co/KjIkTKOFmC
  • Asia’s vast and growing importance to the world economy is not yet matched by the presence of a currency trading center to rival the established order. Get your update on market drivers in Asia here: https://t.co/r3Ku0p9dw1 https://t.co/JVzLj6lON7
  • European Opening Calls From IG: #FTSE 5558 -0.10% #DAX 9865 +0.50% #CAC 4394 +0.35% #AEX 476 -0.08% #MIB 16974 +0.60% #IBEX 6749 +1.34% #OMX 1457 +0.52% #STOXX 2779 +0.49%
  • Heads Up:🇨🇭 CHF Retail Sales Real (YoY) (FEB) due at 06:30 GMT (15min), Actual: N/A Expected: N/A Previous: -0.1% https://www.dailyfx.com/economic-calendar#2020-03-31
Forex: USD/CHF Technical Analysis – Reversal Higher in the Cards?

Forex: USD/CHF Technical Analysis – Reversal Higher in the Cards?

2014-03-16 23:40:00
Ilya Spivak, Head Strategist, APAC
Share:

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

Talking Points:

  • USD/CHF Technical Strategy: Flat
  • Support: 0.8710 (Wedge bottom)
  • Resistance: 0.8806 (23.6% Fib ret., Wedge top), 0.8873 (38.2% Fib ret.)

The Swiss Franc may be on the verge of a turn lower against the US Dollar as USD/CHF price action traces out a falling Wedge chart formation. The pattern speaks to fading downside momentum and may precede a reversal upward. Breaking resistance at 0.8806, the intersection of the Wedge top and the 23.6% Fibonacci retracement initially exposes the 38.2% level at 0.8873. Wedge support is now at 0.8710.

Confirmation of a Wedge setup requires the pattern’s completion on a daily close above its upper boundary. With that in mind, we will continue to stand aside for now, waiting for preliminary cues to mature into an actionable long trade 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 – Reversal Higher in the Cards?

Daily Chart - Created Using FXCM Marketscope 2.0

--- 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

News & Analysis at your fingertips.