- USD/CHF gained about 25 pips on Thursday. It is currently finding some resistance as the currency pair tried to break above 0.9950. If the bulls can’t push the market above the level then a pullback lower can be on the cards.
- Near-term supports are seen in the 0.9920-0.9930 zone followed by the 0.9900 figure. However, a breakout above the 0.9950-0.9961 area should lead to a test of the 0.9989-1.0000 area.
- USD/CHF, this week, has been predominantly consolidating last week’s drop.
USD/CHF 15-minute chart
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Spot rate: 0.9942
Relative change: 0.23%
High: 0.9950
Low: 0.9903
Trend: Neutral
Resistance 1: 0.9950-0.9961 area, figure and June 21 open
Resistance 2: 0.9989-1.0000 area June 15 high and parity
Resistance 3: 1.0036 weekly high
Resistance 4: 1.0069 current 2018 high
Resistance 5: 1.0170 March 7, 2017 high
Resistance 6: 1.0343 December 15, 2016
Support 1: 0.9920-0.9930 zone, demand level and congestion zone
Support 2: 0.9900 figure
Support 3: 0.9856 June 25 low
Support 4: 0.9788 June 7 swing low
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