• USD/CHF from a long-term perspective remains upward biased, though solid resistance around 0.9700 sent the pair lower.
  • Double-top in the 4-hour chart, to keep the pair below the 0.9700 figure, the highest high of August.

The USD/CHF marches firmly as Wall Street closes, finishing Monday’s session with gains of 0.16%, after hitting a daily high around the 0.9700 figure above August’s 23 high at 0.9692. Still, solid resistance at the latter dragged prices down towards the 0.9670s region at the time of writing.

USD/CHF Price Analysis: Technical outlook

The USD/CHF daily chart illustrates the major facing support at the 100-day EMA at 0.9665, which, once cleared, would pave the way to further losses. The Relative Strength Index (RSI) at 58.26, stays in bullish territory, though almost flat, meaning that consolidation lies ahead. Unless the USD/CHF records a decisive break below 0.9600 or above the 0.9700 figure, the USD/CHF will remain range-bound.

USD/CHF Daily chart

When looking at the 4-hour scale, the USD/CHF formed a double-top in the 0.9700 figure, suggesting that the Swiss franc might strengthen soon, targeting the 0.9500 figure. Oscillators have a downslope, with the RSI being in bullish territory, approaching the 50-midline, meaning a cross under would indicate sellers gaining momentum.

Therefore, the USD/CHF first support would be the S1 daily pivot at 0.9640. A break below will expose the S2 pivot point at 0.9610, immediately followed by the 200-EMA at 0.9600.

USD/CHF 4-hour chart

USD/CHF Key Technical Levels

USD/CHF

Overview
Today last price 0.9676
Today Daily Change 0.0028
Today Daily Change % 0.29
Today daily open 0.9658
 
Trends
Daily SMA20 0.9554
Daily SMA50 0.962
Daily SMA100 0.9663
Daily SMA200 0.945
 
Levels
Previous Daily High 0.967
Previous Daily Low 0.9578
Previous Weekly High 0.9692
Previous Weekly Low 0.9574
Previous Monthly High 0.9886
Previous Monthly Low 0.9502
Daily Fibonacci 38.2% 0.9634
Daily Fibonacci 61.8% 0.9613
Daily Pivot Point S1 0.96
Daily Pivot Point S2 0.9543
Daily Pivot Point S3 0.9508
Daily Pivot Point R1 0.9692
Daily Pivot Point R2 0.9727
Daily Pivot Point R3 0.9784

 

 

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