- USD/CHF bounces from weekly lows, set to finish the week with gains of 0.73%.
- From a daily chart perspective, the USD/CHF has nowhere to go; it would likely remain in consolidation.
- Near-term, a symmetrical triangle in the USD/CHF 4-hour chart targets 0.9767.
The USD/CHF stages a comeback after hitting weekly lows around 0.9577 earlier in the day and is about to erase Thursday’s losses as the USD/CHF aims towards the 100-DMA, following hawkish remarks by the US Federal Reserve Chief, Jerome Powell. The USD/CHF is trading at 0.9659, up by almost 0.20%.
USD/CHF Price Analysis: Technical outlook
Consolidation in the daily chart will keep the USD/CHF trading within the 0.9600-0.9690 range, as shown by this week’s price action. Worth noting that the support/resistance levels are the 100 and 50-day EMAs, each at 0.9657 and 0.9614, respectively. Therefore, unless the exchange rate decisively breaks above/below the range, the USD/CHF might remain subdued.
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