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USD/CHF technical analysis: Greenback stable near 0.9755 as US stocks recover

  • 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 chart

USD/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

USD/CHF daily chart

- Click to enlarge

USD/CHF 4-hour chart

USD/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

USD/CHF 4-hour chart

- Click to enlarge

USD/CHF 30-minute chart

USD/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.

USD/CHF 30-minute chart

USD/CHF 30-minute chart

- Click to enlarge

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Flavio Tosti
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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Permanent link to this article: https://snbchf.com/2019/08/usd-chf-technical-analysis-greenback-9755-stocks/

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