USD/CHF Technical Analysis – Struggling to Build Near 0.90

By DailyFx | Updated July 30, 2014 AAA

DailyFX.com -

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • USD/CHF Technical Strategy: Flat
  • Support:0.8973 (trend line), 0.8908 (38.2% Fib ret.)
  • Resistance: 0.8990 (23.6% Fib exp.), 0.9036-39 (Jun 5 high, 38.2% Fib exp.)

The US Dollar is struggling to make headway above the 0.90 figure against Swiss Franc after breaking falling trend line resistance set from November 2013. Near-term resistance is at 0.8990, the 23.6% Fibonacci expansion, with a sustained push above that eyeing the 0.9036-39 area marked by the 38.2% level and the June 5 high. Alternatively, a turn back below the trend line (now at 0.8973) on a daily closing basis opens the door for a test of the 38.2% Fib retracementat 0.8908.

Risk/reward considerations argue against entering long with prices sitting squarely at resistance. On the other hand, taking up the short side seems premature absent a defined bearish reversal signal. We will remain flat for now.

Confirm your chart-based trade setups with the Technical Analyzer. New to FX? Start Here!

USD/CHF Technical Analysis – Struggling to Build Near 0.90

Daily Chart - Created Using FXCM Marketscope 2.0

Related Forex Analysis
  1. USD/CHF excited by the BOJ decision – refreshed 3-week high
    Forex News

    USD/CHF excited by the BOJ decision – refreshed 3-week high

  2. USD/CHF Technical Analysis: Long Trade Hits First Target
    Forex News

    USD/CHF Technical Analysis: Long Trade Hits First Target

  3. USD/CHF Median Line is Key to Uptrend
    Forex News

    USD/CHF Median Line is Key to Uptrend

  4. USD/CHF fails to hold above 0.9600; back to daily lows
    Forex News

    USD/CHF fails to hold above 0.9600; back to daily lows

  5. USD/CHF loses steam above 0.9600
    Forex News

    USD/CHF loses steam above 0.9600

Trading Center