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 – Channel Top in Focus

Forex: USD/CHF Technical Analysis – Channel Top in Focus

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: 0.8806 (23.6% Fib ret.), 0.8765 (Wedge top)
  • Resistance: 0.8850-73 (channel top, 38.2% Fib ret.), 0.8927 (50% Fib ret.)

The US Dollar moved higher against the Swiss Francas expected, seemingly putting in a Falling Wedge chart pattern. An alternative interpretation of current positioning sees the possibility that a Falling Channel is the dominant pattern in play however. The possibility of such a scenario makes argues against entering long for now until confirmation of an upside breakout is secured.

Near-term resistance is in the 0.8850-73 area, marked by the channel top and the 38.2% Fibonacci retracement. A break above that exposes the 50% level at 0.8927. Alternatively, a drop below support at the 23.6% Fib at 0.8806 would expose the wedge top at 0.8765.

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

dailyclassics_usd-chf_body_Picture_10.png, Forex: USD/CHF Technical Analysis – Channel Top in Focus

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.