FX.co ★ USD/CHF

T E C H N I C A L _ A N A L Y S I S U S D / C H F Happy morning! I hope the administration and my fellow members are all doing well. Today, I will write an article about the USD/CHF market’s current price behavior. USD/CHF is trading at 0.8010 at the time of writing. At this time, USD/CHF may become weaker because, at this time, the US dollar has weakened again and has declined to 97.70. This chart is in favor of the sellers now. That's why I don't have any interest in buying this pair during the downtrend . Technically, the Relative Strength Index (RSI) indicator touched 36, so the price does not seem oversold, which is why I think the USD/CHF is trying to correct the price . At the same time, the moving average convergence divergence (MACD) indicator is entering the negative territory. If we look at the USD/CHF market in this chart, USD/CHF is trading below the 50-period and 20-period lines .

USD/CHF in this time frame looks good, but has reached a strong resistance of 0.9224. Breaking the line will help the price to take its value towards the 0.9654 level, which is the 2nd level of resistance. After that, 0.9987 is the next point of urgent resistance, which is the 3rd level of resistance. On the other hand, USD/CHF in this time frame looks good but has reached a strong support of 0.6914. Breaking the line will help the price to take its value towards the 0.6623 level, which is the 2nd level of support. After that, 0.6330 is the next point of urgent support, which is the 3rd level of support. Let's hope that next week the market will move according to the analysis done. Thanks for your presence and comments, and have a pleasant day. The indicators used in the chart: MACD indicator: RSI indicator period 14: 50-day exponential moving average color Orange: 20-day exponential moving average color Magenta: