- USD/CHF tried to escape the current weekly range by breaking out above the 0.9950-0.9961 area but the bullish incursion was short-lived as USD/CHF is trading back below the 0.9950 level reversing the daily gains by the same token.
- Bears have the advantage, their next objective is to drive USD/CHF near the daily low at 0.9931 after which 0.9920 and 0.9900 will be next on their radar. A bear breakout below 0.9900 should open the gates towards 0.9856 June 25 low.
USD/CHF 15-minute chart
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Spot rate: 0.9937
Relative change: -0.03%
High: 0.9979
Low: 0.9931
Trend: Neutral to bearish
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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