Home USD/CHF Technical Analysis: Eyes on short-term rising trendline after US strikes in Baghdad
FXStreet News

USD/CHF Technical Analysis: Eyes on short-term rising trendline after US strikes in Baghdad

  • USD/CHF drops after the news broke that the key members of Iran have been killed in by the US attack near Baghdad airport.
  • 200-hour EMA, resistance line of immediate rising channel guard adjacent upside.
  • December month low adds to the support.

USD/CHF declines to 0.9700 during the early Friday’s trading. The quote recently slipped as the Swiss Franc (CHF) strengthened, due to its safe-haven appeal, after the US-Middle East tensions are about to get worst.

Read: US officials confirm responsibility for missile attack at Baghdad airport, killing Qassim Soleimani

The pair now seems to decline to the support line of the short-term rising channel, at 0.9685, a break of which could extend the fall to December month’s low near 0.9645.

It should, however, be noted that the pair’s downside below 0.9645, can push the Bears towards late-September 2018 top near 0.9620 ahead of highlighting the September 2018 low around 0.9540.

Meanwhile, 200-hour EMA and channel’s resistance can cap the pair’s near-term upside around 0.9735/40.

USD/CHF hourly chart

Trend: Bearish

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.