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.

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
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Spain's cumulative virus case count rises over 1 million $EURUSD
  • Canada's opposition new democrats will back liberal government in vote of confidence, ensuring survival of PM Trudeau - Radio Canada $CAD
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.61%, while traders in EUR/USD are at opposite extremes with 72.59%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/4a25ecdKie
  • The US Dollar Index (DXY) is currently working on a short-term lower-low to a new monthly low. Get your $USD technical analysis from @PaulRobinsonFX here: https://t.co/a15nZSJVAK https://t.co/ib3Qy6V7rM
  • Gold Price Forecast: XAU Bulls Tempt Breakout - but Can They Drive? https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/10/21/Gold-Price-Forecast-XAU-USD-XAUUSD-Bulls-Tempt-Breakout-but-Can-they-Drive.html $Gold https://t.co/sxJN2CUvqp
  • Brexit talks are set to resume, a headline that shouldn’t be a surprise to many given the renewed optimism, but enough to give the Pound an added push towards session highs. Get your $GBPUSD market update from @JMcQueenFX here:https://t.co/nRIIH1qIFi https://t.co/vJS5i1cBKb
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 2.27% Gold: 1.18% Oil - US Crude: -3.41% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/Tign6RxU3c
  • Fed's Kaplan says it would be very helpful to have another round of PPP - BBG
  • "EUR/USD Shorts Spike Amid Second Wave & Stimulus Uncertainty" -via @IG_US $EURUSD traders turn more bearish as coronavirus restrictions mount across Europe, but rates could keep rallying thanks to stimulus hopes. Link to Analysis: https://t.co/AGFYjnWtun #FX #Forex #Trading https://t.co/i1Ja3cm10W
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 1.68% 🇳🇿NZD: 1.36% 🇦🇺AUD: 1.10% 🇪🇺EUR: 0.43% 🇨🇭CHF: 0.35% 🇨🇦CAD: 0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/WZ9WbvQnBM
USD/CHF, EUR/CHF Price: Rebounding From the Same Resistance

USD/CHF, EUR/CHF Price: Rebounding From the Same Resistance

2019-08-14 09:30:00
Mahmoud Alkudsi, Analyst
Share:

Euro and US Dollar Price Outlook

Did you check our latest forecasts on USD and EUR and Gold? Find out more for free from our Q3 forecasts for commodities and main currencies

USD/CHF, EUR/CHF – Stronger Swiss Franc Across the Board

Last week Euro and US dollar continued losing value against Swiss franc. USDCHF closed the weekly candlestick with nearly 1.0 % loss, meanwhile EURCHF suffered less losses closing on Friday with 0.2% loss only.

Yesterday, EUR and USD softened further against CHF. EURCHF tested a fresh low at 1.0841 – its lowest level in nearly 25 months. In turn, USDCHF printed 0.9659- its lowest level in over ten months.

The Relative Strength Index (RSI) remained flat around 37- 40 on USD/CHF indicating to the sellers losing momentum with the buyer’s lack of momentum to lead the price. On the other hand, the oscillator moved last week in the oversold territory on EUR/CHF. Yesterday, (RSI) abandoned this territory although, remained nearby emphasizing the seller’s still in charge.

Just getting started? See our Beginners’ Guide for FX traders

USD/CHF Daily Price Chart (AUG 1, 2017 – AUG 14, 2019) Zoomed Out

USDCHF price daily chart 14-08-19 Zoomed out

USD/CHF Daily Price Chart (June 12 – AUG 14, 2019) Zoomed IN

USDCHF price daily chart 14-08-19 Zoomed in

Looking at daily chart, we notice since August 6 USDCHF has been testing the high end of current trading zone 0.9639 – 0.9758 however, was failing in every attempt to close above.

Thus, a close above the high end of the zone could push the price towards 0.9860. Although, the weekly resistance levels marked on the chart (zoomed in) would be worth monitoring. See the chart to find out more about the higher trading zone with the weekly resistance levels to buyers would face in a further bullish move.

On the flip side, a close below the high end of the zone could press USDCHF towards the low end. However, the daily support levels underlined on the chart need to be considered. Further close below the low end could mean more bearishness towards 0.9546. The weekly support levels mentioned on the chart would need the trader’s attention.

Having trouble with your trading strategy? Here’s the #1 Mistake That Traders Make

EUR/CHF Daily Price Chart (March 1, 2017 – AUG 14, 2019) Zoomed Out

EURCHF price daily chart 14-08-19 Zoomed out

EUR/CHF Daily Price Chart (MAY 31 – AUG 14, 2019) Zoomed IN

EURCHF price daily chart 14-08-19 Zoomed in

Looking at the daily chart, we notice last week EUR/CHF rebounded twice from the high end of the current trading zone 1.0960 – 1.0810 and fell after eyeing a test of the low end of the zone.

Hence, a close below the low end of the zone could send the price towards 1.0623. However, the weekly support levels underlined on the chart (zoomed in) should be watched along the way.

On the other hand, any failure in closing below the low end, could push the price towards the high end. Further close above the high end may cause a rally towards 1.1001. Nonetheless, the weekly resistance levels underscored on the chart need to be considered. See the chart to know more about the higher trading zone with the resistance vicinity in a further bullish scenario.

Written By: Mahmoud Alkudsi

Please feel free to contact me on Twitter: @Malkudsi

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

DISCLOSURES