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USD/CHF technical analysis: Greenback nearing the October lows, consolidating near 0.9870 level

 

  • USD/CHF is consolidating its losses this Thursday.
  • The level to beat for bears is the 0.9855 support.

USD/CHF daily chart

On the daily chart, USD/CHF is trading in a range below its main daily simple moving averages (DSMAs). The market is approaching the October low, currently at the 0.9837 price level.

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 its main SMAs as the market is nearing the 0.9855 support level. A break below this level can lead to an extension of the current bear leg towards the 0.9798 price level, 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. However, the market has been consolidation the recent losses this Thursday which is just a pause. Resistances can be seen at the 0.9875 and 0.9915 price levels, according to the Technical Confluences Indicator.

USD/CHF 30-minute chart

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/2019/11/tosti-usd-chf-technical-analysis-greenback-nearing-october-lows-consolidating-9870/

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