Haresh Menghani

Haresh Menghani

Haresh Menghani, Financial Markets Analyst and New Editor, joined FXStreet team after accumulating 8 year of rich experience in analysing global financial markets. Haresh holds Masters degree in Business Administration and Financial Analysis.

Articles by Haresh Menghani

USD/CHF sits near 1-week tops, just below mid-0.9700s

Technical levels to watch

USD/CHF edges higher for the fourth consecutive session on Thursday. The risk-on mood weighed on the safe-haven CHF and remained supportive. A pullback in the US bond yields kept a lid on the USD and capped gains. The USD/CHF pair now seems to have entered a bullish consolidation phase and was seen oscillating in a narrow trading band near one-week tops, just below mid-0.9700s.

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USD/CHF consolidates in a range, below 0.9700 handle

Technical levels to watch

USD/CHF consolidates Friday’s goodish intraday positive move. The prevalent cautious mood seemed to have capped the upside. The USD/CHF pair was seen oscillating in a narrow trading band below the 0.9700 mark on Monday and consolidated the previous session’s goodish positive move.

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USD/CHF hammered down to sub-0.9900 levels, 2-week lows

Technical levels to watch

USD/CHF lost some additional ground for the second straight session on Tuesday. A subdued USD demand, stability in equity markets did little to provide any respite. Trump’s latest remarks opened the room for a further intraday depreciating move. The USD/CHF pair witnessed some follow-through selling on Tuesday and dropped to near two-week lows, below the 0.9900 handle in the last hour.

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USD/CHF technical analysis: Bulls struggle to extend the recovery beyond 0.9900 handle

USD/CHF daily chart

Renewed US-China trade optimism helped regain some traction. The uptick lacked bullish conviction and warrants some caution. The USD/CHF pair stalled its recent pullback from levels beyond 200-day SMA and regained some traction on the last trading day of the week. Renewed trade optimism weighed on the Swiss franc’s safe-haven status and led to a modest recovery, though bulls struggled to extend the momentum beyond the 0.9900 handle. 

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USD/CHF technical analysis: Jumps back closer to over 1-week tops

USD/CHF 1-hourly chart

The intraday pullback finds decent support ahead of 0.9900 handle. Move beyond 0.9935 will set the stage for additional near-term gains. The USD/CHF pair did witness some intraday pullback but showed some resilience below 38.2% Fibonacci level of the 1.0028-0.9837 recent downfall. The pair managed to find decent support near 200-hour SMA and has now moved back closer to over one-week tops set earlier this Friday.

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USD/CHF technical analysis: Breaks below 0.9940 confluence support, turns vulnerable

USD/CHF daily chart, June - November 2019

The pair remains under some selling pressure for the second straight session. The ongoing slide dragged it below a two-month-old ascending trend-channel. Bears might now aim towards challenging the 0.9900 round-figure mark. The USD/CHF pair extended this week’s rejection slide from the vicinity of the key parity mark and remained under some selling pressure for the second consecutive session.

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USD/CHF technical analysis: Pivots around 200-day SMA, near mid-0.9900s

USD/CHF daily chart, July-November 2019

Continued with its struggle to extend the momentum beyond 200-DMA. Bears eye a decisive break below the ascending trend-channel support. Bulls are likely to await a sustained strength above the key parity mark. The USD/CHF pair failed to capitalize on last week’s attempted rebound from a support marked by the lower end of a two-month-old ascending trend-channel and met with some fresh supply on Monday.

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USD/CHF technical analysis: Bulls trying to defend multi-week old ascending trend-channel

USD/CHF daily chart, June - October 2019

Fading safe-haven demand undermined the CHF demand and extended some support. Bears await a sustained weakness below short-term ascending channel support. The USD/CHF pair struggled to register any meaningful recovery and remained well within the striking distance of near three-week lows set in the previous session, coinciding with the lower end of a multi-week-old ascending trend-channel.

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USD/CHF technical analysis: Manages to hold above 0.9800 handle, 200-hour SMA

USD/CHF 1-hourly chart

The USD/CHF pair struggled to sustain above 61.8% Fibo. level of the 0.9879-0.9714 recent slump and seems to have stalled this week’s recovery move from the 0.9700 neighbourhood. The intraday downtick remained cushioned near the 0.9800 handle, which coincides with 100/200-hour SMA confluence region and should act as a key pivotal point for intraday traders.

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