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
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
Bearish
USD/JPY
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
Oil - US Crude
Bearish
Bitcoin
Mixed
More View more
USD/CHF Technical Analysis: Key Resistance Sub-0.90 Tested

USD/CHF Technical Analysis: Key Resistance Sub-0.90 Tested

2014-07-16 23:42:00
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: 0.8934, 0.8904, 0.8861
  • Resistance: 0.8983-94, 0.9022-36, 0.9061

The US Dollar continued to push higher against the Swiss Franc, with prices rising to a one-month high en route to the 0.90 figure. Near-term resistance is in the 0.8983-94 area, marked by the 38.2% Fibonacci expansion and the June 13 close. A break above that on a daily closing basis aims for the 0.9022-36 region, bracketed by the 50% level and the June 5 top. Alternatively, a reversal back below the 23.6% Fib at 0.8934 clears the way for a test of the 14.6% expansion at 0.8904.

Prices are too close to resistance to justify entering long from a risk/reward perspective. On the other hand, the absence of a defined bearish reversal signal argues against taking up the short side. We will remain flat for now.

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

USD/CHF Technical Analysis: Key Resistance Sub-0.90 Tested

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.