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USD/CHF technical analysis: Greenback hits fresh October lows against the Swiss Franc

 

  • USD/CHF remains under heavy pressure after the London close. 
  • The level to beat for bears is the 0.9871 level. 

USD/CHF daily chart

On the daily chart, USD/CHF is trading in a sideways trend, now challenging the 50 and 100-day simple moving averages (DSMAs) below the 0.9900 handle.

USD/CHF daily chart

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USD/CHF daily chart

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USD/CHF four-hour chart

USD/CHF is under bearish pressure below the main SMAs as the market is trading at its lowest point since late September. A continuation of the bear move below the 0.9871 support can lead to an acceleration towards 0.9850 and 0.9830 price levels, according to the Technical Confluences Indicator.

USD/CHF four-hour chart

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USD/CHF four-hour chart

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USD/CHF 30-minute chart

USD/CHF is trading below its main SMAs, suggesting a bearish bias in the near term. Resistances can be seen at the 0.9881 level and 0.9922, according to the Technical Confluences Indicator.

USD/CHF 30-minute chart

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USD/CHF 30-minute chart

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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/2019/10/tosti-usd-chf-technical-analysis-greenback-fresh-october-lows-against-swiss-franc/

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