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USD/CHF Price Analysis: US dollar bulls nearing 0.9700 handle vs. Swiss franc

 

  • USD/CHF is trading up for the third consecutive day. 
  • The level to beat for bulls is the 0.9700 resistance.

USD/CHF daily chart

USD/CHF is rebounding from the 0.9500 level while challenging the 50 SMA on the daily chart. DXY (US dollar index) is gaining some ground vs. most of its rivals.

USD/CHF daily chart

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USD/CHF daily chart

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USD/CHF four-hour chart

The spot is about to challenge the 0.9700 figure while trading above the 100/200 SMAs on the four-hour chart. A break beyond the above-mentioned level would be necessary for bulls to extend the current bull move towards the 0.9800 and 0.9900 price levels on the way up. Support can emerge near the 0.9600, 0.9550 and 0.9500 price levels on any retracement.

USD/CHF four-hour chart

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USD/CHF four-hour chart

- Click to enlarge

 

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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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