USD/CHF remains above support range

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


As it was forecast in August, the USD/CHF currency pair has reached the support of the 0.8330/0.8435 range. Meanwhile, the rate remains in the channel down pattern. The big question now is which one of the two fails, the support zone or the descending channel.

A move below 0.8330/0.8435 would result in the rate reaching levels not seen since the 2015 Swiss Franc unpegging from the Euro that caused massive volatility. In this case, the pair would most likely look for support in the lower trend line of the channel pattern, before the 0.8000 provides support.

On the other hand, a recovery of the US Dollar against the Swiss Franc is expected to encounter resistance in the upper trend line of the channel and the descending 50- day simple moving average. Meanwhile, it has been spotted that the 0.8600 mark is acting as resistance.
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Tue, 01 Oct 2024 12:44:21 GMT

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