USD/CHF Price Analysis: Rising wedge can halt the bulls

USD/CHF created a rising wedge pattern suggesting potential exhaustion in the medium term.
The level to beat for bears is the 0.9770 support.

Flavio Tosti Independent Analyst

USD/CHF daily chart

USD/CHF is pulling back down slightly from the 2020 highs while reintegrating Friday’s range. The spot is trading below the 100/200-day simple moving averages suggesting an overall bearish bias.

USD/CHF four-hour chart

USD/CHF is trading in a rising wedge pattern suggesting the market might be exhausting itself. If the bears break the 0.9770 support on a daily basis, the spot could decline towards the 0.9730 and 0.9710 price levels. On the flip side, if the buyers surpass the 0.9800 figure the quote could continue trending to the upside towards the 0.9830/50 levels.

Resistance: 0.9800, 0.9830, 0.9850

Support: 0.9770, 0.9730, 0.9710

Additional key levels

USD/CHF

Overview
Today last price	0.9772
Today Daily Change	-0.0003
Today Daily Change %	-0.03
Today daily open	0.9775

Trends
Daily SMA20	0.9695
Daily SMA50	0.9753
Daily SMA100	0.9842
Daily SMA200	0.9874

Levels
Previous Daily High	0.9782
Previous Daily Low	0.9739
Previous Weekly High	0.9782
Previous Weekly Low	0.9629
Previous Monthly High	0.9768
Previous Monthly Low	0.9613
Daily Fibonacci 38.2%	0.9766
Daily Fibonacci 61.8%	0.9755
Daily Pivot Point S1	0.9749
Daily Pivot Point S2	0.9722
Daily Pivot Point S3	0.9706
Daily Pivot Point R1	0.9792
Daily Pivot Point R2	0.9808
Daily Pivot Point R3	0.9835

Author

Flavio Tosti

Independent Analyst

EUR/USD bears Flirt with 61.8% Fibo. support near 1.1775 area

The EUR/USD pair extends the previous day's late pullback from the 1.1835 region and attracts some follow-through selling during the Asian session on Tuesday. Spot prices currently trade around the 1.1775-1.1770 area, down nearly 0.15% for the day amid a modest US Dollar strength.

GBP/USD holds losses below 1.3500 due to BoE rate cut bets

GBP/USD edges lower after two days of gains, trading around 1.3480 during the Asian hours on Tuesday. The pair declines as the US Dollar rebounds from losses recorded over the previous two sessions. Traders will focus on the US ADP Employment Change four-week average later in the day, along with speeches from Federal Reserve officials.

Gold bears seem hesitant as geopolitical risks and Fed rate cut bets counter USD uptick

Gold sticks to modest intraday losses below the monthly peak touched earlier this Tuesday, though it lacks follow-through selling and holds above the $5,150 level heading into the European session. Following the previous day's knee-jerk fall in reaction to US President Donald Trump's new global tariffs and the subsequent bounce, the US Dollar attracts fresh buyers in the wake of the US Federal Reserve's hawkish outlook.

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.