Double top in play but sellers failure at 0.9520, could spark a test of 0.9600

USD/CHF bounces off near-daily lows and stays above the 50% Fibonacci retracement in the H1 chart. Disappointing US economic data sparks a counter-cyclical move with the US dollar rising instead of falling. The USD/CHF daily chart formed a double top that is in play, but USD/CHF sellers’ failures to breach 0.9520, might open the door … Read more

To re-test the double top neckline around 0.9540

The USD/CHF remains negative in the week, losing 1.16%. A positive market mood deterred USD/CHF sellers from confirming the double top chart pattern. USD/CHF Price Analysis: Double top remains in play, but USD/CHF require to hold spot prices below 0.9600. The USD/CHF slumps for the fifth consecutive day, though bounced off weekly lows reached during … Read more

USD/CHF drifts back closer to monthly low, bears now await break below mid-0.9500s

USD/CHF turned lower for the fifth straight day and dropped back closer to the monthly low. The SNB’s surprise hawkish shift continued underpinning the CHF and exerted some pressure. A softer tone surrounding the USD was seen as another factor that added to the selling bias. The USD/CHF pair struggled to capitalize on its modest … Read more

USD/CHF justifies Thursday’s Doji to defend 0.9600 at three-week low

USD/CHF stays defensive after refreshing multi-day low, bullish candlestick formation teases corrective pullback. Risk-aversion, lack of data could underpin the recovery moves. Second-tier US statistics, qualitative catalysts to direct intraday traders. USD/CHF extends late Thursday’s rebound from a three-week low towards piercing the 0.9600 threshold, around 0.9610 during Friday’s initial Asian session. In doing so, … Read more

Falls towards 0.9600 as sellers get ready to test double top’s neckline at 0.9540s

The Swiss franc extends its weekly gains to almost 1%, as shown by the USD/CHF falling from weekly highs above 0.9700. Through the New York sesión, risk aversion pushed equities into negative territory and gave a fresh impulse to safe-haven assets, boosting the CHF. USD/CHF Price Analysis: The formation of a double tops looms and … Read more

Stability below inverted flag warrants downside to near 0.9450

A downside break of an inverted flag has bolstered the Swiss franc bulls. The 20- and 50-EMAs are trending southwards, which signals a bearish bias. The RSI (14) has shifted into a bearish range which adds to the downside filters. The USD/CHF pair is juggling in a narrow range of 0.9581-0.9625 in the early Asian … Read more

USD/CHF stays defensive below 0.9700 with eyes on Fed’s Powell

USD/CHF fades rebound from a fortnight-low, remains sidelined of late. US holiday joined firmer equities to exert downside pressure. Bulls remain hopeful amid fears of recession, aggressive central bank actions. Swiss trade numbers, second-tier US data can entertain traders ahead of Powell’s Testimony. USD/CHF seesaws around 0.9675, fading the late Monday’s bounce off a two-week … Read more

Pressured below the 50-DMA, hovers around 0.9670s

The Swiss franc is registering decent gains of 0.20%, as shown by the USD/CHF falling. A double top in the USD/CHF daily chart looms, targeting 0.9035. USD/CHF Price Forecast: Range bound unless the USD/CHF breaks above-below the 0.9620-0.9700 area. USD/CHF is retracing from the 50-day moving average (DMA) and last Friday’s high at 0.9708, down … Read more