May 22, 2020
USD/CHF Price Analysis: Greenback recovers from May’s lows, trades above 0.9700 figure vs. Swiss franc
- USD/CHF is trading up above the 0.9700 figure.
- USD/CHF remains very choppy with potential breakouts in both directions.
USD/CHF daily chart
USD/CHF is trading above the 0.9700 figure and below the 50/100 SMAs on the daily chart. However, the overall picture remains quite choppy for the dollar/swiss.
USD/CHF four-hour chart
USD/CHF is trading up while above the main SMAs. The spot recovered from the May’s lows. However, since the market is so choppy there is little directional bias. Bullish attempts may find resistance near the 0.9745 and 0.9780 levels near the current monthly highs. On the other hand, a daily close below the 0.9700 figure would be seen as bearish with the potential of a retest of the May’s lows on the cards.
Additional key levels