Price tries to extend the latest gains an to hit another upside target. is trading above the 1.1500 psychological level and is very close to delete the yesterday's minor losses. Has found temporary resistance at the second warning line (wl2) of the minor ascending pitchfork. Could be attracted by the confluence area formed between the second warning line (wl2) and the third warning line (WL3).
USD/CHF decreased in the last session, but maintains a chance to reach new high in the upcoming period. Could decrease to retest the 0.9634 static support before will try to take out the dynamic resistance from the median line (ml). I’ve said in a previous report that we may see a minor consolidation above the 0.9634 level before the rate will have enough energy to jump much higher.
After two years of relative stability, the safe-haven swiss franc came into the spotlight again when it came under pressure against the euro last week and broke out of its long-term range. The much-desired weakness will likely be welcome by the Swiss National Bank which longs for a more export-competitive currency. However, the swissie remains "overvalued" as the level of risk aversion in the markets remains quite high despite investors' rising appetite for riskier assets. The question arising now is for how long the recent retreat will persist.
USDCHF: With the pair seeing price follow through on the back of its Tuesday recover, more strength is likely in the days ahead. On the downside, support lies at the 0.9600 level. A turn below here will open the door for more weakness towards the 0.9550 level and then the 0.9500 level. On the upside, resistance resides at the 0.9700 level where a break will clear the way for more strength to occur towards the 0.9750 level. Further out, resistance comes in at the 0.9800 level. Threatening further upside pressure. Its daily RSI is bullish and pointing higher suggesting further upside pressure.
Price has found support at the first warning line (wl1) of the minor ascending pitchfork and now could approach and retest the fourth warning line (WL4). Is bullish and could try to take out the dynamic resistance (WL4). Only a drop below the second warning line (wl2) of the major ascending pitchfork validates a further drop.
EUR/CHF extends the amazing rally, has managed to climb above the 1.1450 level on Monday, much above the 1.1405 last week’s high. Price dropped in the fresh start of the week, but the buyers are still in the game and have forced the rate to breakout above the confluence area formed between the wl2 and the wl1.
Price rallied in the last week, but failed to reach and retest the median line (ml) of the descending pitchfork. Could decrease to retest the 0.9634 level (resistance turned into support) before will try to take out the dynamic resistance. We could have a great buying opportunity if it will come to retest the second warning line (WL2) as well, while a valid breakout above the median line (ml) will confirm an important upside movement.
EUR/CHF has found strong resistance at the confluence area formed between the second warning line (WL2) with the warning line (wl1) of the minor ascending pitchfork. A retreat was favored after the impressive rally, so he could come back towards the upper median line (uml) of the minor ascending pitchfork.
USDCHF - With the pair rallying strongly higher the past week, more weakness is likely. On the downside, support lies at the 0.9650 level. A turn below here will open the door for more weakness towards the 0.9600 level and then the 0.9550 level. On the upside, resistance resides at the 0.9750 level where a break will clear the way for more strength to occur towards the 0.9800 level. Further out, resistance comes in at the 0.9850 level. Threatening further upside pressure. All in all, USDCHF faces further strength on price rally.
Price rallies and extends the latest gains, you could see that is very close to hit the median line (ml) of the descending pitchfork, where he could find temporary support. Has increased aggressively, ignoring the USDX's drop, is trading much above the 0.9634 broken resistance.
EUR/CHF is still trading above psychological level at 1.1000 and the pair is heading sharply higher. s. Hourly support is located at a distance at 1.0984 (13/07/2017 low). Road is wide-open for further strengthening.
USD/CHF is trading higher. Hourly support can be found at 0.9439 (21/07/2017 high). Strong resistance is given at 0.9771 (15/06/2017 high) is on target. Expected to to show further bullish consolidation
EUR/CHF rallied and has extended the latest gains, climbed as much as 1.1361, much above the 1.1274 yesterday’s high. You can see that has retreated a little in the last hours after the amazing jump, we could see a minor consolidation in the upcoming days above the upper median line (uml) of the ascending pitchfork.
The USD/CHF was the first major dollar pair to show strength this week and it has been the first to turn higher post FOMC. Most of the other major USD pairs have all given up their sharp gains after initially rallying hard on the back of a dovish policy statement from the Fed. As I warned in my EUR/USD piece earlier, most of the bearish news might be in the price now for the dollar. Although it is far too early to call this the bottom for the greenback, against her weaker rivals like the Swiss franc it is certainly looking strong at the moment. If tomorrow’s GDP data doesn’t show a big miss then the US currency could make a more profound recovery.
EUR/CHF is still trading above psychological level at 1.1000 and the pair is headong towards 1.1200. Selling pressures will likely grow around those levels. Hourly support is located at a distance at 1.0984 (13/07/2017 low). Expected to inch higher.
USD/CHF is trading lower. Hourly support can be found at 0.9439 (21/07/2017 high). Strong resistance is given at 0.9771 (15/06/2017 high). Expected to to show further bearish consolidation In the long-term, the pair is still trading in range since 2011 despite some turmoil when the SNB unpegged the CHF. Key support can be found 0.8986 (30/01/2015 low). The technical structure favours nonetheless a long term bullish bias since the unpeg in January 2015
Surprisingly or not, the USD/CHF is trading in the green, stay above the 0.9498 static support and is struggling to climb above the sliding line (SL). I’ve said in the previous reports that an accumulation above the 0.9440 will signal a reversal. Is trading much above the 0.9437 previous low, but another leg higher will appear only if the USDX will start another important upside movement.
Price rallies and looks unstoppable on the Daily chart because has ignored some important resistance levels, could hit fresh new highs till the end of the days as the bulls are in full control. We have an amazing upside momentum as the Switzerland currency is trading in the red versus al its rivals, has dropped sharply also versus the greenback even if the USD is under pressure ahead the FOMC.
EUR/CHF is still trading above psychological level at 1.1000 and the pair has broken 1.1100. Selling pressures will likely grow around those levels. Hourly support is located at a distance at 1.0984 (13/07/2017 low). Expected to inch higher.
Price rallied aggressively and erased the last day’s losses, looks motivated to take out some important resistance level, signaling that the rate will increase further in the upcoming period. Is pressuring the median line (ml) of the minor ascending pitchfork after the impressive breakout above the upper median line (UML) of the major ascending pitchfork. Right now is trying to take out the 1.1087 resistance (previous high). Sould increase further if will stabilize above the UML, even if will stay below the median line (ml) of the minor ascending pitchfork, another drop will come only if will fail once again to stay above the UML.
EUR/CHF is still trading above psychological level at 1.1000 and the pair is ready to monitor 1.1100. Selling pressures are growing below 1.1100. Hourly support is located at a distance at 1.0922 (30/06/2017 low). Expected to inch higher.
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