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USD/CHF Price Analysis: Greenback approaching January highs vs. Swiss franc

 

  • USD/CHF created a strong bullish recovery while nearing the 2020 highs. 
  • The level to beat for bulls is the 0.9770 resistance.  

USD/CHF daily chart

USD/CHF is attempting to form a base near multi-month lows while trading below the main daily simple moving averages.

USD/CHF daily chart

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USD/CHF daily chart

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USD/CHF four-hour chart

The market is nearing the January highs while trading above the main SMAs. Bulls want a break above the 0.9770 resistance on a daily closing basis in order to send the market up towards the 0.9800 figure and 0.9828 price level. Support is seen near the 0.9727, 0.9710 and 0.9676 levels, according to the Technical Confluences Indicator.

Resistance: 0.9770, 0.9800, 0.9828

Support: 0.9727, 0.9710, 0.9676

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-greenback-approaching-january-highs-swiss-franc/

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