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
Bullish
Oil - US Crude
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
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
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
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Last week, Gold rallied to an over seven and a half-year high then retreated after. Will today’s US non-Manufacturing ISM numbers (15:00UK) push the yellow metal even higher? #Gold, #USeconomy, #USD https://t.co/MnX3ozkrUu
  • Tune in to @nickcawley1 's #webinar at 6:30 AM ET/10:30 AM GMT to prepare for key UK events and markets in the week ahead. Register here: https://t.co/xewSeUoDaT https://t.co/WBZiTNxKIY
  • 💶 Retail Sales YoY (MAY) Actual: -5.1% Expected: -7.5% Previous: -19.6% https://www.dailyfx.com/economic-calendar#2020-07-06
  • Heads Up:💶 Retail Sales YoY (MAY) due at 09:00 GMT (15min) Expected: -7.5% Previous: -19.6% https://www.dailyfx.com/economic-calendar#2020-07-06
  • 🇬🇧 Construction PMI (JUN) Actual: 55.3 Expected: 47 Previous: 28.9 https://www.dailyfx.com/economic-calendar#2020-07-06
  • Missed today's Cross-Market Weekly Outlook webinar? See the recording here - https://t.co/lnB12vU3A4 #markets #outlook #Fed
  • BoJ likely to keep maintain stance that economy will recover gradually later this year from COVID-19
  • Heads Up:🇬🇧 Construction PMI (JUN) due at 08:30 GMT (15min) Expected: 47 Previous: 28.9 https://www.dailyfx.com/economic-calendar#2020-07-06
  • Have you been catching on your @DailyFX podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/Twr44cZ1GB https://t.co/3eRiyhBW8i
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.41%, while traders in US 500 are at opposite extremes with 71.46%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/8FDsfH3v3q
USD/CHF Technical Analysis – All Eyes on Support Sub-0.89

USD/CHF Technical Analysis – All Eyes on Support Sub-0.89

2014-07-02 00:56:00
Ilya Spivak, Head Strategist, APAC
Share:

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

Talking Points:

  • USD/CHF Technical Strategy: Pending Long
  • Support:0.8869, 0.8830, 0.8781
  • Resistance: 0.8908, 0.8957, 0.9000

The US Dollar has managed to find interim support after dropping as expected to tap a six-week lowagainst the Swiss Franc. All eyes are now on 0.8869, a support level marked by the 50% Fibonacci retracement and reinforced by a formerly broken falling trend line set from November 2013. A daily close below that exposes the 61.8% level at 0.8830. Alternatively, a turn back above the 38.2% Fib at 0.8908 targets the 23.6% retracement at 0.8957.

Losses since the beginning of June have looked corrective in the context of the break above trend line resistance. With that in mind, we will opt to wait for the current pullback to yield a buying opportunity rather than take up a short position.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

USD/CHF Technical Analysis – All Eyes on Support Sub-0.89

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.