- The demand for the Swiss franc decreases as Wall Street indices are gaining strength.
- The level to beat for bulls are at 0.9790 and 0.9815 level.
USD/CHF daily chartUSD/CHF is trading off 2-month lows below the main daily simple moving averages (DSMAs). Equity markets are recovering from the recent selloff easing the demand for safe-haven currencies such as CHF and JPY. |
USD/CHF daily chart - Click to enlarge |
USD/CHF 4-hour chartUSD/CHF is bouncing from monthly lows while trading below its main SMAs. Bulls need a clear break above 0.9790 to reach 0.9815 resistance on the way up. |
USD/CHF 4-hour chart - Click to enlarge |
USD/CHF 30-minute chartUSD/CHF is trading just above the 50 and 100 SMA, suggesting a pullback up in the near term. Immediate supports are near 0.9755 and 0.9726, according to the Technical Confluences Indicator.
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USD/CHF 30-minute chart - Click to enlarge |
Flavio has been engaged in the financial market since 2011 with experience in stocks, currencies, commodities and cryptocurrencies among others. In 2015 he completed a postgraduate diploma in Financial Trading Analysis from the University of Essex in collaboration with FXStreet.
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