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. See our updated Privacy Policy here.

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
More View more
USD/CHF Technical Analysis: Franc Back on the Defensive

USD/CHF Technical Analysis: Franc Back on the Defensive

Ilya Spivak, Head Strategist, APAC

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

Talking Points:

  • USD/CHF Technical Strategy: Long at 0.9452
  • Support: 0.9456, 0.9312, 0.9196
  • Resistance:0.9592, 0.9736, 0.9852

The US Dollar looks to be resuming its uptrend against the Swiss Franc after completing a Flat chart formation last week. A daily close above the 23.6% Fibonacci expansionat 0.9592 exposes the 0.9689-0.9736 area marked by the October 6 high and the 38.2% level. Alternatively, a reversal below the 0.9456-66 area (trend line, 23.6% Fib retracement) opens the door for a challenge of the 0.9312-59 zone (October 15 low, 38.2% Fib retracement).

We entered long USDCHF at 0.9452, initially targeting 0.9592. A stop-loss will be activated on a daily close below 0.9312.We will take profit on half of the position and move the stop-loss to breakeven once the first objective is reached.

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

USD/CHF Technical Analysis: Franc Back on the Defensive

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