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USD/CHF after the breakdown

USD/CHF after the breakdown

Information is not investment advice

Last week USD/CHF broke below the uptrend support line of 2018. It’s now providing resistance for the price at 0.9965. Another obstacle on the upside is in the form of the 50-week MA at 0.9950. Finally, the psychological parity level of 1.00 is also now a resistance.

The USD recovered this week, but if American retail sales figures due at 15:30 MT time disappoint, USD/CHF will turn back down. The target will be at 0.9895 (March low). The major support is at 0.9845 (200-week MA). Only above 0.9970 the USD will have a chance to rise to 1.00 and 1.0035.

usdchf 1406.png

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EUR/CHF: don’t trust the euro

The upside of EUR/CHF has so far been limited by 1.0975. On Monday, the pair slipped below 1.0940 resuming the decline that started last week.

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