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  • Swiss franc continues under pressure against US dollar.  
  • Price moves closer to 2018 highs, remains bullish.  

The USD/CHF pair rose is rising on Wednesday on the back of a stronger US dollar and it on its way to the highest daily close since mid-November.  

The greenback rose across the board supported by higher US bond yields and resume the upside after a modest pullback yesterday. The US Dollar Index erased Tuesday’s losses and climbed back above 97.00, although remained below weekly highs.  

The US dollar is about to post the third daily gains in-a-row against the Swiss franc. On Monday broke a 4-day trading range and consolidated above the parity level. Despite the gains, USD/CHF has been unable to reach fresh weekly highs on Wednesday. As of writing trades at daily highs at 1.0085, up 25 pips for the day.  

The upside remains limited by 1.0100. The mentioned area is a crucial level, and a break above would expose 2018 highs located at 1.0130 (Nov 13 high). A daily close on top of 1.0110 should be a positive signal for the greenback. If over the next days, USD/CHF fails to extend gains, it is likely to lose strength favoring a bearish correction. Immediate support levels are seen at 1.0035 and 0.9980 (20-day moving average).  
 

USD/CHF

Overview:
       Today Last Price:  1.0086
       Today Daily change:  0.0026  pips
       Today Daily change %:  0.26%
       Today Daily Open:  1.006
Trends:
       Daily SMA20:  0.9971
       Daily SMA50:  0.9919
       Daily SMA100:  0.994
       Daily SMA200:  0.9909
Levels:
       Previous Daily High:  1.0093
       Previous Daily Low:  1.0033
       Previous Weekly High:  1.003
       Previous Weekly Low:  0.9943
       Previous Monthly High:  0.9996
       Previous Monthly Low:  0.9716
       Daily Fibonacci 38.2%:  1.007
       Daily Fibonacci 61.8%:  1.0056
       Daily Pivot Point S1:  1.0031
       Daily Pivot Point S2:  1.0002
       Daily Pivot Point S3:  0.9971
       Daily Pivot Point R1:  1.0091
       Daily Pivot Point R2:  1.0122
       Daily Pivot Point R3:  1.0151