USD/CHF: technical levels
USD/CHF rose today touching 0.9425 (55-day MA), but then eased down to 0.9400 handle (100-day MA, 38.2% of the decline from May highs) as US Q1 GDP growth was revised down from 2.4% to 1.8%.
There’s a rising wedge pattern on H1, so if USD/CHF slides below the trend line at 0.9360, there’s the risk that US dollar reverses down to test 0.9345 (200-day MA), 0.9300 (23.6% Fibo) and 0.9245 (May 1 low). On the upside, resistance lies at 0.9430, 0.9485 and 0.9525.
The pair's close to overbought at H4, but still the pair has so far been trying to base, so upside's still possible.
Chart. Daily USD/CHF