Market Analysis: USD/CHF Coils for Next Move
Market Analysis: USD/CHF Coils for Next Move
USD/CHF climbed higher above 0.8050 and might correct some gains.
Important Takeaways for USD/CHF Analysis Today
- USD/CHF climbed higher above 0.8050 and 0.8080 before it faced hurdles.
- There was a break below a bullish trend line with support at 0.8085 on the hourly chart.
USD/CHF Technical Analysis
On the hourly chart of USD/CHF, the pair started a decent increase from 0.7940. The US Dollar climbed above the 0.8000 handle against the Swiss Franc.
The bulls were able to pump the pair above the 50-hour simple moving average and 0.8050. Finally, the pair tested 0.8100. A high was formed near 0.8101 and the pair is now consolidating gains. The pair dipped below the 23.6% Fib retracement level of the upward move from the 0.7937 swing low to the 0.8101 high.
Besides, there was a break below a bullish trend line at 0.8085. On the downside, immediate support on the USD/CHF chart is near 0.8040. The first key area of interest might be near the 50% Fib retracement at 0.8020.
A downside break below 0.8020 might call for a drop to 0.7975. Any more losses may possibly open the doors for a move toward 0.7940.
On the upside, the pair could struggle near 0.8080. The first major barrier for bulls is 0.8100. If there is a clear break above 0.8100 and the RSI climbs above 50, the pair could start another increase. In the stated case, it could test 0.8150.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
USD/CHF climbed higher above 0.8050 and might correct some gains.
Important Takeaways for USD/CHF Analysis Today
- USD/CHF climbed higher above 0.8050 and 0.8080 before it faced hurdles.
- There was a break below a bullish trend line with support at 0.8085 on the hourly chart.
USD/CHF Technical Analysis
On the hourly chart of USD/CHF, the pair started a decent increase from 0.7940. The US Dollar climbed above the 0.8000 handle against the Swiss Franc.
The bulls were able to pump the pair above the 50-hour simple moving average and 0.8050. Finally, the pair tested 0.8100. A high was formed near 0.8101 and the pair is now consolidating gains. The pair dipped below the 23.6% Fib retracement level of the upward move from the 0.7937 swing low to the 0.8101 high.
Besides, there was a break below a bullish trend line at 0.8085. On the downside, immediate support on the USD/CHF chart is near 0.8040. The first key area of interest might be near the 50% Fib retracement at 0.8020.
A downside break below 0.8020 might call for a drop to 0.7975. Any more losses may possibly open the doors for a move toward 0.7940.
On the upside, the pair could struggle near 0.8080. The first major barrier for bulls is 0.8100. If there is a clear break above 0.8100 and the RSI climbs above 50, the pair could start another increase. In the stated case, it could test 0.8150.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.