USD/CHF Technical Analysis: Resistance Now Above 0.91

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:0.9061, 0. 9022, 0.8983
  • Resistance: 0.9110, 0.9189, 0.9268

The US Dollar rose to a new six-month high against the Swiss Franc as buyers move to challenge the 0.9100 figure. Near-term resistance is at 0.9110, the 76.4% Fibonacci expansion. A daily close above that exposes the 100% level at 0.9189. Alternatively, a reversal below the 61.8% Fib at 0.9061 clears the way for a challenge of the 50% expansion at 0.9022.

We are tactically opting to stand aside for now because we already hold long USD exposure against the Euro and the Canadian Dollar. As such, we think it best not to over-commit as heavy-duty US event risk continues cross the wires through the week-end.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

USD/CHF Technical Analysis: Resistance Now Above 0.91

Daily Chart - Created Using FXCM Marketscope 2.0

You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    USD/CHF posts fresh session highs at 0.9116

  2. Forex News

    Technical outlook: EUR and USD against CHF – Commerzbank

  3. Forex News

    Euro May Overlook Soft German CPI Data, Swiss Franc Under Fire

  4. Forex News

    USD/CHF Technical Analysis: Turn Lower Hinted Ahead

  5. Forex News

    USD/CHF erases gains, back to 0.9000

Trading Center