- USD/CHF is posting a weekly gain of 1.86%, the biggest since June 2022.
- A break above 0.9600 could pave the way for 0.9700.
The USD/CHF It is advancing for the sixth consecutive day, thanks to the strength of the US dollar in general, after breaking above the 20-day EMA at 0.9532 on Thursday. During the day, USD/CHF hit a daily low at 0.9553, before rising towards its daily high, away from the 0.9600 figure, before settling at current exchange rates. At the time of writing, USD/CHF is trading at 0.0.9587, up 0.29%.
USD/CHF Price Analysis: Technical Outlook
From a daily chart point of view, USD/CHF has a neutral to bullish bias. Thursday’s break above a descending channel opened the door for a move towards the confluence of the 50/100 day EMAs around 0.9635-41, but first USD/CHF buyers will have to reclaim 0.9600 on their way down. the North.
The four-hour timeframe shows that USD/CHF faced solid resistance at the R1 daily pivot near 0.9600 before falling towards 0.9553. However, buyers reappeared at this last point, driving prices higher, but as the end of the week approaches, a break above 0.9600 is almost impossible.
If the above scenario holds, the first USD/CHF bid zone would be the 200 EMA at 0.9622, followed by the August monthly high at 0.9651, and then the July 22 high at 0.9704. On the other hand, the first support of the USD/CHF will be 0.9551. If it breaks below, the 20 EMA will be seen at 0.9537, followed by the 100 EMA at 0.9515.
USD/CHF 4-hour chart
Key USD/CHF Technical Levels
Source: Fx Street
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