USD/CHF pushes higher and now the technical pattern top is in focus

USD/CHF is trading higher this morning after a risk-on move.
It has been reported that China and the US may remove tariffs.

Rajan Dhall, MSTA FX Daily

On the 4-hour chart below USD/CHF looks like it may be set to test the top of the triangle pattern that has been forming since October,

The move today came after reports that China and US agree to phased rollback of extra trade war tariffs.

The indices are all trading higher after a move away from safe-haven assets was noted. Gold, JPY and CHF all suffered, while the DAX and the FTSE 100 rallied.

Any break of this pattern would be seen as risk positive but there are still a few things to contend with later in the session. We are due to hear from Fed's Bostic and Kaplan and we will also get the latest initial jobless claims data later in the session.

USD/CHF

Overview
Today last price	0.9933
Today Daily Change	0.0010
Today Daily Change %	0.10
Today daily open	0.9923

Trends
Daily SMA20	0.9916
Daily SMA50	0.9916
Daily SMA100	0.987
Daily SMA200	0.9955

Levels
Previous Daily High	0.9941
Previous Daily Low	0.9915
Previous Weekly High	0.997
Previous Weekly Low	0.985
Previous Monthly High	1.0028
Previous Monthly Low	0.9837
Daily Fibonacci 38.2%	0.9925
Daily Fibonacci 61.8%	0.9931
Daily Pivot Point S1	0.9912
Daily Pivot Point S2	0.99
Daily Pivot Point S3	0.9886
Daily Pivot Point R1	0.9938
Daily Pivot Point R2	0.9952
Daily Pivot Point R3	0.9964

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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