USD/CHF Price Analysis: Greenback off fresh 2020 highs, trades above 0.9800 figureby Flavio Tosti
- USD/CHF bulls are keeping the market above the 0.9800 figure.
- The rising wedge pattern can limit extra gains on USD/CHF.
USD/CHF daily chart
USD/CHF is easing after hitting new 2020 highs this Friday. The quote is trading below the 100/200-day simple moving averages suggesting an overall bearish bias.
USD/CHF four-hour chart
The market broke above the 0.9800 figure and the rising wedge upper trendline. If bulls maintain the market above the 0.9800 figure it would be considered a bullish sign which can lead to further gains towards the 0.9830 and 0.9850 levels. On the flip side, a daily close below the 0.9800 figure could see a re-integration of the wedge with a potential decline towards the 0.9770 level.
Resistance: 0.9830, 0.9850, 0.9870
Support: 0.9800, 0.9770, 0.9730
Additional key levels
|Today last price||0.9803|
|Today Daily Change||0.0009|
|Today Daily Change %||0.09|
|Today daily open||0.9794|
|Previous Daily High||0.9796|
|Previous Daily Low||0.976|
|Previous Weekly High||0.9782|
|Previous Weekly Low||0.9629|
|Previous Monthly High||0.9768|
|Previous Monthly Low||0.9613|
|Daily Fibonacci 38.2%||0.9782|
|Daily Fibonacci 61.8%||0.9774|
|Daily Pivot Point S1||0.9771|
|Daily Pivot Point S2||0.9748|
|Daily Pivot Point S3||0.9735|
|Daily Pivot Point R1||0.9806|
|Daily Pivot Point R2||0.9819|
|Daily Pivot Point R3||0.9842|