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USD/CHF Technical Analysis: USD/CHF trading at daily highs near 0.9950 level

  • USD/CHF bounced from the daily low at 0.9907 and is now challenging the 0.9950-0.9961 area.  
  • USD/CHF bulls need the breakout above 0.9950-0.9961 area in order to target 0.9989-1.0000 zone.  
  • A failure to breakout above the 0.9950-0.9961 area may lead to a continuation of the range. However, bulls seem to have a slight advantage as the main trend remains bullish.

USD/CHF 15-minute chart

Spot rate:                  0.9940
Relative change:       0.06%      
High:                         0.9950
Low:                          0.9907

Trend:                       Bullish / Bearish pullback

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:                0.9929 daily 50-period SMA  
Support 2:                0.9920 intraday demand level
Support 3:                0.9900 figure
Support 4:                0.9856 June 25 low
Support 5:                0.9788 June 7 swing low

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