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: Bottom Set Above 0.90 Level?

USD/CHF Technical Analysis: Bottom Set Above 0.90 Level?

Ilya Spivak, Head Strategist, APAC

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

Talking Points:

  • USD/CHF Technical Strategy: Flat
  • Support:0.9320, 0.9225, 0.9071
  • Resistance: 0.9474, 0.9599, 0.9723

The US Dollar may have formed a bottom against the Swiss Franc having produced a bullish Three Inside Up candlestick pattern. Near-term resistance is at 0.9474, the 38.2% Fibonacci retracement, with a break above that on a daily closing basis exposing the 50% level at 0.9599. Alternatively, a turn below the 23.6% Fib at 0.9320 clears the way for a test of the 14.6% retracement at 0.9225.

While entering long is tempting from a purely technical perspective, we will tactically opt to stand aside. Erratic SNB policy moves since the beginning of the year imply a worrisome degree of outsized volatility risk in having exposure to anything CHF-related. As such, we prefer to stand aside.

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

USD/CHF Technical Analysis: Bottom Set Above 0.90 Level?

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