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USD/CHF technical analysis: Greenback loses steam against Swissy, trades near 0.9930 level

 

  • USD/CHF erased its intraday gains, settling near the 0.9930 level. 
  • Support is seen at the 0.9920 level.

USD/CHF daily chart

On the daily chart, USD/CHF is trading in a range below its 200-day simple moving average (DMA). The spot is holding just above the 50 SMA today at the 0.9921 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 retracing down from the current November highs while challenging the 0.9920 level and 200 SMA. If the buyers give up, the spot can continue to decline towards the 0.9899 and 0.9855 support 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 the main SMAs, suggesting a bearish bias in the short term. Resistance can be found near the 0.9951/61 zone and the 0.9982 level, 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/2019/11/tosti-usd-chf-technical-analysis-greenback-steam-against-swissy-trades-9930/

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