USD/CHF fails to reach resistance zone

Note: This section contains information in English only.
Source: Dukascopy Bank SA


Since the last review of the USD/CHF chart, the pair has made two attempts to reach the resistance zone of the September and November high levels at 0.9335/0.9375. Meanwhile, after each failed attempt the rate retraces to the support zone at 0.9090/0.9105. In addition, it has been observed that the rate has been ignoring the 50 and 200-hour simple moving averages.

On February 2, the currency exchange rate was located near the 0.9200 mark, as it retreated after another failed attempt at reaching the high level zone of September and November.

In the case of a continuation of the decline, the US Dollar could reach the 0.9090/0.9105 zone against the Swiss Franc. Below the zone, the most close by support was the August low level at 0.9020.

Meanwhile, a potential surge of the pair could find resistance in January high levels at 0.9275, 0.9295 and 0.9344, before reaching the September and November high level zone at 0.9090/0.9105.
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