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
Subscribe
Please try again
Select

Live Webinar Events

0

Economic Calendar Events

0

Notify me about

Live Webinar Events
Economic Calendar Events

H

High

M

Medium

L

Low
More View More
Swiss Franc Technical Forecast: USD/CHF, NZD/CHF Eye Key Levels

Swiss Franc Technical Forecast: USD/CHF, NZD/CHF Eye Key Levels

What's on this page

Swiss Franc Technical Forecast – Talking Points

  • Further USD/CHF downside likely with confluent pressure overhead
  • Swiss Franc trading at multi-month high after November rally
  • Short-term NZD/CHF momentum may be slowing, upside still favored
Advertisement

USD/CHF Price Analysis

The Swiss Franc appears set to continue its bullish run against the US Dollar following USD/CHF establishing a new yearly low earlier this month. The 100-day simple moving average along with trendline resistance and the 61.8% Fibonacci retracement from the September swing have contained price action to the upside.

Currently, USD/CHF is trading at the 38.2% Fib level and with the 50-day simple moving average trending sideways, a short-term break higher may play out. However, the prior area of confluent resistance will likely contain any rally and set the stage for downside continuation. That said, the longer-term trend appears poised for lower lows and any movement to the upside will come under strong pressure.

USD/CHF Daily Chart

USD/CHF Price Chart

Chart created with TradingView

NZD/CHF Price Analysis

NZD/CHF rallied to make a new multi-month high over the past two weeks. The June high at 0.6298 will offer the nearest term support on any pullback, but a break lower would allow a drop to the July high before November’s rally is threatened. In the event of continuation higher NZD/CHF will eye January’s price levels.

Nevertheless, MACD divergence is weakening, which may signal consolidation before another attempt higher. Still, NZD/CHF seems well-positioned, with the overall trend supporting higher ground. A break under the 2020 June high would likely give way to range-bound movement in the short term.

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

NZD/CHF Daily Chart

NZD/CHF chart

Chart created with TradingView

SWISS FRANC TRADING RESOURCES

--- Written by Thomas Westwater, Analyst for DailyFX.com

To contact Thomas, use the comments section below or @FxWestwater on Twitter

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

DISCLOSURES