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.

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: Move Above 0.97 Signaled

USD/CHF Technical Analysis: Move Above 0.97 Signaled

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:0.9641, 0.9572, 0.9524
  • Resistance: 0.9712, 0.9770, 0.9829

The US Dollar resumed its move higher against the Swiss Franc, issuing the strongest daily close in three months. Near-term resistance is at 0.9712, the 38.2% Fibonacci expansion, with a break above that on a daily closing basis exposing the 50% level at 0.9770. Alternatively, a move back below the 23.6% Fib at 0.9641 opens the door for a challenge of trend line support at 0.9572.

The available trading range is too narrow to justify entering a trade in line with our long-term Euro outlook from a risk/reward perspective. With that in mind, we will remain flat for now, waiting for price action to offer a more compelling opportunity down the road.

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

--- 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