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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Bearish
Wall Street
Bullish
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
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Bitcoin has taken a backseat to other volatile risk assets today, with the cryptocurrency down less than half a percent $BTC $USD https://t.co/YzaX09fLAS
  • Who needs a 2 and 20 when you have Reddit?? #GameStop https://t.co/ELWWjYPg3D
  • The #Bitcoin bull has taken a back seat, at least for now, but speculative fervor continues to run high as witnessed by the saga taking place in the stock of Gamestop. Get your market update from @JStanleyFX here: https://t.co/0Q8PxyUIkc https://t.co/A2JHReRTcf
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.57% 🇬🇧GBP: 0.45% 🇦🇺AUD: 0.45% 🇨🇭CHF: 0.17% 🇪🇺EUR: 0.17% 🇯🇵JPY: 0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/OyXArspzGL
  • USD/CAD continues to retreat, now trading below 1.27 $USD $CAD https://t.co/cgmNxBHsjo
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Silver: 0.44% Oil - US Crude: 0.27% Gold: -0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/38weW9olX9
  • Waiting for Kodak to claim it is the most shorted stock in the world. If blockchain and vaccine pivots don't work, maybe this will be the ticket.
  • US to order 100 million more doses of Pfizer and Moderna vaccines to fight supply shortages - BBG
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Germany 30 are at opposite extremes with 70.32%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/F22xKzHTZh
  • Mircosoft Earnings 2Q Revenues: $43.08 B, EST. $40.20 B EPS: $2.03 act. vs $1.64 est. $MSFT 246.46 +7.19%
USD/CHF Technical Analysis – Selloff Slows Below 0.88 Mark

USD/CHF Technical Analysis – Selloff Slows Below 0.88 Mark

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: 0.8723 (50% Fib exp.), 0.8669 (61.8% Fib exp.)
  • Resistance:0.8777 (38.2% Fib exp), 0.8844 (23.6% Fib exp.)

The US Dollar is attempting to find its feet after five consecutive days of losses against the Swiss Franc in the aftermath of an expected reversal near 0.89. Prices are retesting support-turned resistance at 0.8777, the 38.2%Fibonacci expansion, with a break above that targeting the 23.6% expansion at 0.8844. Near-term support is at 0.8723, the 50% level. A breach below this boundary aims for the 61.8% Fib at 0.8669.

USD/CHF lost nearly 2 percent last week. Most analogous episodes of comparable magnitude in the past year have been followed by significant recoveries. While this certainly doesn’t guarantee a lasting upswing and the chart does not show a discrete reversal signal, we are nonetheless leery to chase the pair downward at this point.

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

dailyclassics_usd-chf_body_Picture_11.png, USD/CHF Technical Analysis – Selloff Slows Below 0.88 Mark

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