- Analytics
- News and Tools
- Market News
- USD/CHF Price Analysis: Bears and bulls battle it out at daily resistance
USD/CHF Price Analysis: Bears and bulls battle it out at daily resistance
- USD/CHF bulls still in play but there are prospects of a meanwhile correction.
- Bears eye the 61.8% Fibonacci target to the downside.
The US Dollar smashed a three-month month high against a basket of currencies on Tuesday due to the uber-hawkish rhetoric from Federal Reserve Chair Jerome Powell.
Powell explained that the US central bank is likely to raise rates more than previously expected and warned that the process of getting inflation back to 2% has "a long way to go."
This has seen USD/CHF fly and test a key resistance area ahead of channel resistance as follows:
USD/CHF daily chart
There is plenty of upward momentum in this daily channel with 0.9450 eyed ahead of 0.9500.
USD/CHF H4 chart
At this juncture, we have prospects of a correction but it may take some doing to really impact the demand that we have seen on the Fed's revived hawkish rhetoric.
USD/CHF H1 chart
The bulls are still in play as we can see on the lower time frame and the bears will need to get onto the backside of the micro bullish trendline with 0.9400 as a key support ad structure point. The above chart offers a bearish scenario and price flow that could occur on a break of such structure with the 61.8 Fibonacci target level eye near 0.9340.
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
