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USD/CHF technical analysis: Greenback jumps and settles above 0.9726 as tariffs gets delayed

USD/CHF daily chart

USD/CHF is trading off 2-month lows below the main daily simple moving averages (DSMAs). US equity markets are rising sharply as US tariffs are to be delayed to December 15. The news was perceived as risk-on, sending safe-haven CHF, JPY and gold down.

USD/CHF daily chart, August 14

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USD/CHF daily chart, August 14

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USD/CHF 4-hour chart

USD/CHF broke through several resistance levels but is still trading below its main SMAs. Bears would need to recapture 0.9726 and 0.9694 support to reverse the bullish surprise.

USD/CHF 4-hour chart, August 14

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USD/CHF 4-hour chart, August 14

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USD/CHF 30-minute chart

USD/CHF is trading above its main SMAs, suggesting bullish pressure in the near term. The move up is significant and more upside is likely in the coming day. The level to beat for bulls are seen at 0.9753, 0.9771, 0.9790 and 0.9812 resistances, according to the Technical Confluences Indicator.

USD/CHF 30-minute chart, August 14

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USD/CHF 30-minute chart, August 14

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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-jumps-settles-9726-tariffs-gets-delayed/

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