USD/CHF Technical Analysis: Swissy having small pullback below parity after 76-pip gain, trading at 7-week high

By | July 12, 2018
  • USD/CHF has broken to the upside from a triangle formation on the daily chart, suggesting further gains can be on the cards. 
  • USD/CHF has broken above the parity level as it reached a daily high at 1.0025, one pip shy from the 1.0026 May 11 open . USD/CHF is currently having a shallow pullback just above 1.0000.
  • USD/CHF bulls next objective is to conclusively break above 1.0000 to then target 1.0026 May 11 open and 1.0056, the current 2018 high.

USD/CHF 15-minute chart 

Spot rate:                  1.0012
Relative change:       0.53%     
High:                         1.0025
Low:                          0.9946

Trend:                       Bullish

Resistance 1:           1.0000 figure
Resistance 2:           1.0026 May 11 open
Resistance 3:           1.0056 current 2018 high

Support 1:                0.9989-1.0000 area June 15 high and parity
Support 2:                0.9950-0.9961 figure and June 21 open
Support 3:                0.9933 daily 50-period SMA 
Support 4:                0.9920 intraday demand level
Support 5:                0.9900 figure
Support 6:                0.9856 June 25 low
Support 7:                0.9788 June 7 swing low

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