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
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Bullish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.83% 🇦🇺AUD: 0.55% 🇨🇭CHF: 0.49% 🇳🇿NZD: 0.12% 🇨🇦CAD: 0.06% 🇯🇵JPY: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/U2Uq3eweT2
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Wall Street: 1.76% US 500: 1.50% Germany 30: -0.07% France 40: -0.25% FTSE 100: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/r8sNbOElUm
  • The ECB make no qualms about recognizing the Euro's impact on their policies (they didn't just a few years ago), but they still suggest they will only target the symptom (lacking inflation) rather than the cause (rising currency). Now, if their language starts to shift... https://t.co/f25EvBsfJf
  • Cable with a strong bounce from Fibo support $GBPUSD - higher-low support potential 2785-2815 https://t.co/kKURzmx61S https://t.co/iJIi1jy2uF
  • US 3-Month Bills Draw 0.100% Primary Dealers Awarded: 49.0% Indirect Bidders Accepted: 45.6% Direct Bidders Accepted: 5.3% B/C Ratio: 2.88
  • Technical Trade Levels: #Dollar, #Euro, #Sterling, #Aussie, #Gold, $SPX500 & More!- Webinar Archive - https://t.co/Kt5ikQmjG4
  • ECB's Lagarde says clear that external value of Euro has impact on inflation, adds that the ECB monitors FX movements $EUR
  • Dow, Nasdaq Rally as USD Pulls Back to Start a Busy Week https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/09/28/Dow-Nasdaq-Rally-as-USD-Pulls-Back.html https://t.co/YaFmp8eCqi
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.84% 🇦🇺AUD: 0.46% 🇪🇺EUR: 0.19% 🇳🇿NZD: 0.06% 🇨🇦CAD: 0.06% 🇯🇵JPY: 0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/yqSnFMey6l
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: 3.35% France 40: 2.76% FTSE 100: 2.04% Wall Street: 1.79% US 500: 1.53% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/kD54uFfXzs
USD/CHF Technical Analysis – Rally Stalls Below 0.90 Figure

USD/CHF Technical Analysis – Rally Stalls Below 0.90 Figure

2014-05-30 04:10:00
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:0.8952-56 (Apr 4 high, 100% Fib exp.), 0.8896 (76.4% Fib exp.)
  • Resistance: 0.9016 (123.6% Fib exp.), 0.9053 (138.2% Fib exp.)

The US Dollar rose against the Swiss Franc as expected after prices put in a bullish Piercing Line candlestick pattern. The pair has finally overcome resistance in the 0.8952-56 area, marked by the 100% Fibonacci expansion and the April 4 high, exposing the 123.6% level at 0.9016. A further push beyond that targets the 138.2% Fib at 0.9053. Alternatively, a reversal back below 0.8952 opens the door for a decline to the 76.4% Fibat 0.8896.

While a long a position appears reasonable from a risk/reward perspective, we will tactically opt to stand aside. The inverse correlation between USDCHF and EURUSD is now 0.92 on 20-day percent change studies, and we already have a short EURUSD position. Adding a long USDCHF trade here would in effect double our exposure to the same trade, so we will stand aside.

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

USD/CHF Technical Analysis – Rally Stalls Below 0.90 Figure

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