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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
USD/CHF Technical Analysis: Long Trade Hits First Target

USD/CHF Technical Analysis: Long Trade Hits First Target

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 appears to have rekindled its uptrend against the Swiss Franc after breaking out of a Flag chart formation last week. Near-term resistance is at 0.9592, the 23.6% Fibonacci expansion, with a break above that on a daily closing basis exposing the 0.9689-0.9734 area marked by the October 6 high and the 38.2% level. A Shooting Star candle warns of indecision and hints a near-term pullback may materialize however. A turn below the 0.9456-77 area (rising trend line, 23.6% Fib retracement) clears the way for a test of the 0.9312-59 zone (October 15 low, 38.2% Fib retracement).

We bought USDCHF at 0.9452, initially targeting 0.9592. The pair has now hit our first objective, booking profit on half of the position. The rest will remain open to capture any further upside momentum with a stop-loss adjusted to breakeven (0.9452).

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

USD/CHF Technical Analysis: Long Trade Hits First Target

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.