USD/CHF declines after reaching parity

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


The USD/CHF pair reached parity shortly after the May 10 publication signaled that it is set to occur. Afterwards, the rate shortly touched the early 2018 high levels at 1.0060, before starting a steep decline. During the second part of May, support to the decline was found in the 0.9700 mark, the 50-day simple moving average near 0.9600 and the 0.9550 level.

At the start of June, the pair was still located in the 0.9550/0.9600 zone. However, it was spotted that the 50-day simple moving average had turned into resistance.

A resumption of the USD/CHF decline is set to look for support in the previous 2022 high level zones at 0.9465 and 0.9355/0.9375. In addition, take into account the 200-day simple moving average near 0.9335. Below the mentioned levels, the 2022 support trend line is passing.

On the other hand, a move above the 50-day SMA would encounter resistance in the 0.9700, 0.9800 and 0.9900 levels, before the 1.0000 mark is reached once again.

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