USD/CHF Technical Analysis: Swissy testing weekly lows in search of a bottom

  • USD/CHF has been in a trading range since early May. 
  • USD/CHF is trading below its flat simple moving averages trying to find support at 0.9820 (Thursday’s low). There is not a clear bottom yet, however, a break above the bear trendline would signal that bulls are ready to trade up towards 0.9870 (Friday’s high).  

USD/CHF 15-minute chart

Spot rate:                  0.9825
Relative change:       0.37%     
High:                         0.9867
Low:                          0.9810

Main trend:               Neutral

Resistance 1:           0.9835 August 23 low
Resistance 2:           0.9856 June 25 low
Resistance 3:           0.9867 July 31 swing low
Resistance 4:           0.9900 August 14 low
Resistance 5:           0.9950 figure

Support 1:                0.9820 August 25 low
Support 2:                0.9807 August 22 low 
Support 3:                0.9788 June 7 swing low
Support 4:                0.9756, 200-day simple moving average

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