OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/CHF Price Analysis: Dollar advances vs. Swiss franc, prints fresh 2020 highs

  • USD/CHF prints fresh 2020 highs and retreats on an intraday basis.
  • The rising wedge pattern can limit bullish advances. 
 

USD/CHF daily chart

 
Dollar/Swiss is easing after hitting fresh 2020 highs this Tuesday. The quote is trading below the 100/200-day simple moving averages suggesting an overall bearish bias.
 

USD/CHF four-hour chart

 
USD/CHF is trading is rising wedge while above the 0.9800 figure and the main SMAs. Bulls are looking for a break above the 0.9830 level on a daily basis to reach 0.9850 and 0.9870 levels. On the flip side, bears would need a daily close below the 0.9800 figure to reach the 0.9770 and 0.9730 level on the way down. 
 
 
Resistance: 0.9830, 0.9850, 0.9870
Support: 0.9800, 0.9770, 0.9730
 

Additional key levels

 

USD/CAD loses momentum, returns to mid-1.3200s

The USD/CAD pair rose to a fresh six-day high of 1.3280 in the early trading hours of the American session but started to retrace its daily rally as t
Read more Previous

GBP/USD: BoE rate cuts dialled back, a positive tone piercing through

GBP/USD is trading around 1.30 the figure within a range between 1.2970 and 1.3048 as the market discounts the likelihood of a Bank of England rate cu
Read more Next
Start livechat