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USD/CHF Technical Analysis: Eyes on short-term rising trendline after US strikes in Baghdad

  • USD/CHF drops after the news broke that the key members of Iran have been killed in by the US attack near Baghdad airport.
  • 200-hour EMA, resistance line of immediate rising channel guard adjacent upside.
  • December month low adds to the support.
USD/CHF declines to 0.9700 during the early Friday’s trading. The quote recently slipped as the Swiss Franc (CHF) strengthened, due to its safe-haven appeal, after the US-Middle East tensions are about to get worst.

Read: US officials confirm responsibility for missile attack at Baghdad airport, killing Qassim Soleimani 

The pair now seems to decline to the support line of the short-term rising channel, at 0.9685, a break of which could extend the fall to December month’s low near 0.9645.

It should, however, be noted that the pair’s downside below 0.9645, can push the Bears towards late-September 2018 top near 0.9620 ahead of highlighting the September 2018 low around 0.9540.

Meanwhile, 200-hour EMA and channel’s resistance can cap the pair’s near-term upside around 0.9735/40.

USD/CHF hourly chart

(see more posts on USD/CHF, )
USD/CHF hourly chart

- Click to enlarge

Trend: Bearish


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Anil Panchal
Anil Panchal, has seven years of experience as a commodity research analyst and six years' rich knowledge of Forex markets. He holds a masters degree in Business Administration with Finance being specialization.
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