Skip to Content
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.

Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
USD/CHF Technical Analysis: Consolidating Below 0.98 Mark

USD/CHF Technical Analysis: Consolidating Below 0.98 Mark

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

Talking Points:

  • USD/CHF Technical Strategy: Flat
  • Support:0.9746, 0.9428, 0.9213
  • Resistance: 0.9910, 1.0177, 1.0393

The US Dollar looks poised to continue higher after clearing range resistance below the 0.98 figure against the Swiss Franc. A daily close above the 23.6% Fibonacci expansion at 0.9910 exposes the 1.0126-77 area (March 12 high, 38.2% level). Alternatively, a turn back below the 14.6% expansion at 0.9746opens the door for a test of the 0.9428-79 zone (38.2% Fib retracement, April 3 low).

Entering long is tempting from a purely technical perspective. However, we will opt to pass on the setup. The SNB’s erratic approach to monetary policy of late warns of outsized underlying volatility risk in holding CHF exposure. With that in mind, we will stand aside and look for opportunities elsewhere.

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