Fri, Feb 03, 2023 @ 17:12 GMT
HomeContributorsTechnical AnalysisUSD/CHF Attempts to Bounce Back

USD/CHF Attempts to Bounce Back

The Swiss franc weakened after the Q3 GDP fell short of expectations. A tentative break below last August’s low of 0.9380 further put the bulls on the defensive. Multiple tests at this level show strong interest in keeping the greenback steady. The recent high at 0.9600 is a key resistance which coincides with the 20-day moving average, making it a congestion area. A bullish breakout would send the pair to 0.9750. 0.9460 is a fresh support and the price could be vulnerable to a new round of sell-off if it falls through 0.9380.

Orbex
Orbexhttp://www.orbex.com/en/agent/cl/ccc678cb86b9
At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading.

Featured Analysis

Learn Forex Trading