- USD/CHF is trading up for the third consecutive day as the bulls managed to create a bullish reversal near the 0.9870 level.
- USD/CHF bulls are now trying to break through the 0.9950-0.9960 area as the gap between the 50, 100 and 200-period simple moving averages is widening, suggesting building bullish momentum. A breakout above the 0.9970 July 27 high, would be considered very bullish as it would open the gates to challenge the parity level and beyond.
- Market participants will pay close attention to the US Nonfarm Payrolls and the Average Hourly Earnings scheduled on Friday at 12:30 GMT. The news can greatly affect USD-denominated currency pairs.
Spot rate: 0.9954
Relative change: 0.34%
High: 0.9957
Low: 0.9914
Trend: Bullish
Resistance 1: 0.9950-0.9960 area, figure and supply level
Resistance 2: 0.9970 July 27 high
Resistance 3: 0.9989-1.0000 area June 15 high and parity
Resistance 4: 1.0036 weekly high
Resistance 5: 1.0069 current 2018 high
Resistance 6: 1.0170 March 7, 2017 high
Resistance 7: 1.0343 December 15, 2016
Support 1: 0.9920-0.9930 zone, demand level and congestion zone
Support 2: 0.9900 figure
Support 3: 0.9867 July 31 low
Support 4: 0.9856 June 25 low
Support 5: 0.9788 June 7 swing low