Feb 26, 2020
USD/CHF New York Price Forecast: Dollar rebounds from session’s lows, nearing 0.9770 resistance
- USD/CHF is bouncing from daily lows while nearing the 0.9770 resistance.
- As the rebound could be short-lived, the level to beat for bears remains the 0.9730 support level.
USD/CHF daily chart
USD/CHF is trading below its 100/200-day simple moving averages suggesting an overall bearish momentum in the long term. The market is challenging the 50 SMA.
USD/CHF four-hour chart
As expected the market reached the 0.9730 level from which it is now having a small rebound. Bears would need a daily close below the above-mentioned level to generate more losses towards the 0.9710 and 0.9680 level. On the flip side, buyers are looking for a break above the 0.9770 resistance to regain the 0.9800 figure.
Resistance: 0.9770, 0.9800, 0.9830
Support: 0.9730, 0.9710, 0.9680
Additional key levels