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.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
Mixed
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
USD/JPY
Mixed
Gold
Bullish
Oil - US Crude
Mixed
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
Bitcoin
Mixed
More View more
Real Time News
  • Crude oil prices may rise on supply-disruption fears after the outcome of the Iran election, but sentiment from #coronavirus fears may derail Brent’s recovery ahead of the G20 summit. Get your crude #oil market update from @ZabelinDimitri here: https://t.co/83iTphwaWv #OOTT https://t.co/RgQku64XyW
  • The Australian Dollar remains severely weighed down by #coronavirus worries and a lack of domestic data points will probably keep that story in the driving seat. Get you $AUDUSD market update from @DavidCottleFX here: https://t.co/qswUnnXVwR https://t.co/NyZ0iEpILm
  • While Sino-US trade jitters are temporarily abating, China-Swedish trade tensions are rising as a part of a political contagion of growing economic hostilities between nations across the world. Get your market update from @ZabelinDimitri here:https://t.co/F1fVoyzoz5 https://t.co/uOLKRebXB1
  • #DidYouKnow the global trade volumes dropped by close to 10% amid the Great Recession. Want to know your #tradewars history? Get it here: https://t.co/f4loFVzX6w https://t.co/GDTFHvUIf7
  • The spread of #coronavirus promises a global economic hit at a time when the global economy is perhaps especially ill-equipped to deal with one. Growth-correlated assets are vulnerable. Get your market update from @DavidCottleFX here: https://t.co/0If0Jw7c2P https://t.co/mph6z70XeF
  • The $JPY continues to struggle against the US Dollar but there seems little appetite to push USD/JPY much beyond a range which has tended to reassert itself since late last year. Get your market update from @DavidCottleFX here: https://t.co/iaVfPSuXy4 https://t.co/1QPhJmYlQv
  • The #Euro may bounce after hitting the lowest level in close to three years against the US Dollar. While the broader trend points firmly lower, selling pressure may be ebbing. Get your market update from @IlyaSpivak here: https://t.co/697SQ9j5FY https://t.co/6SEvwQyod8
  • GBP/CAD has broken below the September uptrend while EUR/CAD may be ending its consecutive 12 day decline with EUR/CHF approaching key resistance as NZD/CAD aims at November lows. Get your currencies update from @ZabelinDimitri here: https://t.co/GpRB7IKhTA https://t.co/hlHlGdhkHc
  • The $GBP recoiled from chart resistance against the US Dollar, setting the stage for prices to resume a bearish trend reversal triggered mid-January. Get your market update from @IlyaSpivak here:https://t.co/lVpyZkIfJt https://t.co/9oXusxs0Kg
  • The #Euro may have more room to fall versus its major peers such as the US Dollar, Japanese Yen and British Pound. What is the technical picture of EUR/USD, EUR/JPY and EUR/GBP? Get your market update from @ddubrovskyFX here: https://t.co/M6fLA9g3BK https://t.co/HMwQgr1WP5
USD/CHF Faces Decisive Support Level- USD to Swiss Franc Price Forecast

USD/CHF Faces Decisive Support Level- USD to Swiss Franc Price Forecast

2019-12-20 10:41:00
Mahmoud Alkudsi, Market Analyst
Share:

USD/CHF Technical Analysis

USD Forecast
USD Forecast
Recommended by Mahmoud Alkudsi
Download our fresh Q3 USD Forecast
Get My Guide

USD/CHF - Price Action

On Dec 13, USD/CHF declined 0.9805- to its lowest level in over three months. The price rallied after as sellers took profit. This week, sellers resumed bearish price action and pressed below 0.9800 handle for the first time three and half months.

Alongside this, the Relative Strength Index (RSI) fell from 40 to 32 emphasizing the strength of downtrend momentum.

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

USD/CHF Daily Price Chart (Nov 1, 2017 – DEC 20, 2019) Zoomed Out

USDCHF price daily chart 20-12-19 Zoomed out

USD/CHF Daily Price Chart (June 25– DEC 20, 2019) Zoomed IN

USDCHF price daily chart 20-12-19 Zoomed in

From the daily chart, we notice on Dec 10 USD/CHF tumbled to a lower trading zone 0.9758- 0.9852. The price failed to rally to the higher trading zone in multiple occasions highlighting that sellers were in charge.

The price broke below the neckline of double top pattern located at 0.9840 generating another bearish signal. A close below the low end of the zone, could persuade more sellers to join the market and press USDCHF towards 0.9639. In that scenario, the weekly support levels underlined on the chart (zoomed in) should be watched closely, as some sellers might take profit at these points.

On the other hand, any failure in closing below the low end reflects seller’s hesitation. This could lead some of them to exit the market causing a price reversal towards the high end of the zone. Further close above the high end, opens the door for buyers to take control and lead USDCHF towards 0.9930. That said, the weekly resistance levels underscored on the chart would be worth monitoring.

How to Use IG Client Sentiment in Your Trading
How to Use IG Client Sentiment in Your Trading
Recommended by Mahmoud Alkudsi
Improve your trading with IG Client Sentiment Data
Get My Guide

USD/CHF Daily Four-Hour Chart (Oct 10, 2017 – DEC 20, 2019)

usdchf four hour price chart 20-12-19

Looking at the four-hour chart, we notice on Nov 29 USD/CHF peaked at 1.0023 then started a downtrend move creating a series of lower highs with lower lows.

A break below 0.9754 could send USDCHF towards 0.9685. Yet, the weekly support levels underscored on the chart should be considered. On the other hand, a break above 0.9821 may lead the price to correct higher towards the high end of the trading zone discussed above on the daily chart. Although, the resistance area marked on the chart should be kept in focus.

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

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

News & Analysis at your fingertips.