USD/CHF: negative outlook
USD/CHF tried to rise this week to last week’s high (0.9839), but failed below 0.9800.
The pair opened below 200-week MA and is going to close below this line as well. Yesterday the greenback closed below important support of 0.9550 and eroded short-term support line. There are also negative signals from the H4 Ichimoku Chart. This all means that USD/CHF may have topped and is now due for a decline.
Support is at 0.9527 (38.2% Fibo of this year’s advance), 0.9500/9405 (200-period MA) and 0.9360 (20-day MA). Resistance is at 0.9600, 0.9645 and 0.9750.
Chart. H4 USD/CHF