Skip to Content
News & Analysis at your fingertips.
Free Trading Guides
Subscribe
Please try again
Select

Live Webinar Events

0

Economic Calendar Events

0

Notify me about

Live Webinar Events
Economic Calendar Events

H

High

M

Medium

L

Low
More View More
USD/CHF Technical Analysis: Eyeing Resistance Above 0.96

USD/CHF Technical Analysis: Eyeing Resistance Above 0.96

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

Talking Points:

  • USD/CHF Technical Strategy: Flat
  • Support:0.9551, 0.9468, 0.9343
  • Resistance: 0.9662, 0.9843, 0.9988

The US Dollar advanced for a fourth consecutive session against the Swiss Franc, moving to the highest level in six weeks. Near-term resistance is at 0.9662, the 23.6% Fibonacci expansion, with a break above that on a daily closing basis exposing the 38.2% level at 0.9843. Alternatively, a reversal below the 14.6% Fib at 0.9551 clears the way for a challenge of trend line support at 0.9468.

Risk/reward considerations argue against entering long with prices in close proximity to resistance. On the other hand, the absence of a defined bearish reversal signal suggests taking up the short side is premature. We will remain flat for now, waiting for a more actionable opportunity to present itself.

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

Daily Chart - Created Using FXCM Marketscope

--- 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