To receive Ilya’s analysis directly via email, please SIGN UP HERE
- USD/CHF Technical Strategy: Flat
- Support:0.9061, 0. 9022, 0.8983
- Resistance: 0.9110, 0.9189, 0.9268
The US Dollar continues to push higher against the Swiss Franc, with prices overcoming June’s swing high to hit the highest level in close to six months. A daily close above resistance at 0.9110, the 76.4% Fibonacci expansion, exposes the 100% level at 0.9189. Alternatively, a turn below the 61.8% Fib at 0.9061 opens the door for a test of the 50% expansion at 0.9022.
We are tactically opting to stand aside for now because we already hold long USD exposure against the Euro and the Canadian Dollar. As such, we think it best not to over-commit as heavy-duty US event risk continues cross the wires through the week-end.
Add these technical levels directly to your charts with our Support/Resistance Wizard app!
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for DailyFX.com