Feb 6, 2020
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 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
Additional key levels