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USD/CHF technical analysis: Greenback under pressure below 0.9700 as sellers challenge June lows

  • CHF is up as Wall Street indices start the week in the red. 
  • The level to beat for bears are at the 0.9675 and 0.9660 levels.

USD/CHF daily chart

USD/CHF is trading near 2-month lows below the main daily simple moving averages (DSMAs). US equity markets are starting the week on the back foot, driving demand for safe-haven currencies such as the Swiss franc.

USD/CHF daily chart, August 13

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USD/CHF daily chart, August 13

- Click to enlarge

USD/CHF 4-hour chart

USD/CHF is creeping lower while trading below its main SMAs. Bears want to reach 0.9675 and 0.9660 on the way down, according to the Technical Confluences Indicator.

USD/CHF 4-hour chart, August 13

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USD/CHF 4-hour chart, August 13

- Click to enlarge

USD/CHF 30-minute chart

USD/CHF is trading below its main SMAs, suggesting bearish pressure in the near term. Immediate resistances are near 0.9694 and 0.9726, according to the Technical Confluences Indicator.

USD/CHF 30-minute chart, August 13

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USD/CHF 30-minute chart

- Click to enlarge

Additional key levels

Additional key levels, August 13

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Additional key levels, August 13

- Click to enlarge

Full story here
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-pressure-below-9700-sellers-challenge-june-lows/

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