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
GBP/USD
Bullish
USD/JPY
Bullish
Gold
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
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • US House Speaker Nancy Pelosi says that congress is making progress on the #USMCA trade deal $USDCAD $USDMXN
  • Going live in 5 for today's webinar on @IG_US client sentiment Taking a look at $EURUSD today and $USDCAD Join here - https://www.dailyfx.com/webinars/586549347 https://t.co/eaOLnamQGt
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.21% 🇯🇵JPY: 0.03% 🇬🇧GBP: 0.01% 🇨🇭CHF: -0.10% 🇳🇿NZD: -0.10% 🇦🇺AUD: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/HB5Rbvy73F
  • Fed's Kashkari: We need to get to fair trade with China, the trick is how
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.23% Wall Street: -0.28% US 500: -0.30% France 40: -0.36% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/OBd87XSIN2
  • Fed's Mester: -Worth considering standing repo facility $USD $DXY $TNX $XAU
  • Fed's Mester: -Fed is in 'really good spot' following 3 rate cuts -Sees no sign of weakness spreading to wider economy -Sees risks tilted to the downside amid weak business investment -Sees US GDP growth around 2% next year
  • "The Hong Kong issue has the potential to influence the process of the trade talks. China will have to respond … if Trump signs it into law," said one person who is familiar with the trade talks. https://t.co/DNPx94mSUE via @scmpnews
  • $GBPUSD is nearing a re-test of the 1.3000 level while $AUDUSD remains perilously close to the .6700 support. Get your technical analysis from @JStanleyFX here:https://t.co/pk8RId0dpk https://t.co/39EgYnCVvy
  • MN Fed Kashkari: -Not forecasting a recession but there are risks -Housing has responded to rate cuts in last few months
USD/CHF Technical Analysis – Rally Pauses at April Top

USD/CHF Technical Analysis – Rally Pauses at April Top

2014-05-14 22:02:00
Ilya Spivak, Sr. Currency Strategist
Share:

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

Talking Points:

  • USD/CHF Technical Strategy: Flat
  • Support: 0.8859 (61.8% Fib exp.), 0.8829 (50% Fib exp.)
  • Resistance: 0.8896-0.8914 (76.4% Fib exp., Apr 4 close), 0.8956 (100% Fib exp.)

The US Dollar paused to consolidate having reversed upward as expected against the Swiss Franc after forming a bullish Piercing Line candlestick pattern. Prices overcame resistance at a falling trend line set from September 2013 to challenge the 0.8896-0.8914 area, marked by the 76.4% Fibonacci expansion and the April 4 close. A break above this barrier targets the 100% level at 0.8956. Alternatively, a reversal below the 61.8% Fib at 0.8859 exposes the 50% expansion at 0.8829.

Risk/reward considerations argue against entering long with prices sitting squarely at relevant resistance. On the other hand, taking up the short side looks premature without a defined bearish reversal signal. We will remain flat for now, waiting for an actionable opportunity to emerge.

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

USD/CHF Technical Analysis – Rally Pauses at April Top

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.