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USD/CHF Price Analysis: Dollar bouncing after falling to three-week’s lows, trades above 0.9700 figure

 

  • USD/CHF is bouncing from daily lows while nearing the 0.9730 resistance.
  • As the bounce can be short-lived, the level to beat for sellers remains the 0.9680 level

USD/CHF daily chart

USD/CHF is trading below the main daily simple moving averages suggesting an overall bearish bias in the long term. The spot is just below the 50 SMA.

USD/CHF daily chart

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USD/CHF daily chart

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USD/CHF four-hour chart

As expected the spot reached the 0.9680 level from which it is now having a rebound. Bears remain in control as USD/CHF trades below the main SMAs. A break below the 0.9680 support can lead to further losses towards the 0.9630 level. Resistance is seen near 0.9730 and 0.9770 levels.

Resistance: 0.9730, 0.9770, 0.9800

Support: 0.9710, 0.9680, 0.9630

USD/CHF four-hour chart

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USD/CHF four-hour 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/2020/02/tosti-usd-chf-price-analysis-dollar-bouncing-after-falling-lows-trades-9700/

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