Sun, Aug 01, 2021 @ 11:19 GMT

USD/CHF Weakening

USD/CHF rise started at 0.9581 pauses, breaking hourly resistance at 0.9770 (12/01/2018) and heading along the 0.9765 range. The bullish pattern started from 0.9188 (16/02/2018 low) continues. The pair is contained between hourly support and resistance given at 0.9296 (05/02/2018 low) and 0.9916 (26/12/2017 high). The technical structure suggests short-term downward trading moves.

In the long-term, the pair is still trading in range since 2011 despite some turmoil when the SNB unpegged the CHF. Key support lies at 0.9072 (07/05/2015 low) while resistance at 1.0344 (15/12/2016 high) is distanced. The technical structure favours a long term bullish bias since the unpeg in January 2015.

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