8 Aug 2019
USD/CHF technical analysis: Greenback stable near 0.9755 as US stocks recover
- The demand for the Swiss franc decreases as Wall Street indices are gaining strength.
- The level to beat for bulls are at 0.9790 and 0.9815 level.
USD/CHF daily chart
USD/CHF is trading off 2-month lows below the main daily simple moving averages (DSMAs). Equity markets are recovering from the recent selloff easing the demand for safe-haven currencies such as CHF and JPY.
USD/CHF 4-hour chart
USD/CHF is bouncing from monthly lows while trading below its main SMAs. Bulls need a clear break above 0.9790 to reach 0.9815 resistance on the way up.
USD/CHF 30-minute chart
USD/CHF is trading just above the 50 and 100 SMA, suggesting a pullback up in the near term. Immediate supports are near 0.9755 and 0.9726, according to the Technical Confluences Indicator.
Additional key levels