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  • USD/CHF is starting the week by trading inside last Friday’s range as the pair keeps compressing in a triangle pattern on the daily chart.  
  • USD/CHF is trading above its main daily simple moving averages (50, 100 and 200-period) suggesting that the main trend keeps a bullish bias for the time being. In the short-term, the 0.9920 and 0.9900 are the main supports while to the upside the 0.9960-0.9970 area and 0.9989-1.0000 zone remain strong resistances.  
  • A strong bullish breakout above 1.0000  is most likely needed to unlock the satus-quo.

USD/CHF 15-minute chart

USD/CHF daily chart

Spot rate:                  0.9933
Relative change:       -0.20%      
High:                         0.9955
Low:                          0.9920

Trend:                       Bullish  

Resistance 1:           0.9950 figure
Resistance 2:           0.9960-0.9970 area, supply level and July 27 high
Resistance 3:           0.9989-1.0000 area, June 15 high and parity
Resistance 4:           1.0043-1.0069 area, July 19 high and current 2018 high
Resistance 5:           1.0170 March 7, 2017 high
Resistance 6:           1.0343 December 15, 2016

Support 1:                0.9920 August 3 low  
Support 2:                0.9867 July 31 low
Support 3:                0.9856 June 25 low
Support 4:                0.9788 June 7 swing low