USD/CHF Price Analysis: US dollar eases from 2020 highs, stabilizes near 0.9800 figure

• USD/CHF consolidates gains for the second consecutive day. 
• The level to beat for bulls is the 0.9900 resistance.
• The parity level might be on the bulls’ radar.

USD/CHF daily chart

USD/CHF is retreating slightly this Monday while the currency pair is consolidating gains for the second consecutive day above the main SMAs. The Fed extended its Quantitative Easing program with an initial reaction down on the US dollar which was relatively limited on USD/CHF and across the board.

USD/CHF daily chart

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USD/CHF four-hour chart

The uptrend remains intact as the spot is trading above the main SMAs. Bulls are looking for a break above the 0.9900 figure for a potential run to the parity level (1.0000) followed by the 1.0050 level on the way up. The market is expected to find support near 0.9800, 0.9750 and 0.9700 levels in the medium term.

USD/CHF four-hour chart

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