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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


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