Market news

Show news:
  • All news
  • Currency news
  • Stock news
  • Raw news



24.06.2022 01:16

USD/CHF Price Analysis: Falls towards 0.9600 as sellers get ready to test double top’s neckline at 0.9540s

  • The Swiss franc extends its weekly gains to almost 1%, as shown by the USD/CHF falling from weekly highs above 0.9700.
  • Through the New York sesión, risk aversion pushed equities to negative territory and gave a fresh impulse to safe-haven assets, boosting the CHF.
  • USD/CHF Price Analysis: The formation of a double tops looms and will target 0.9150.

The USD/CHF extends to four, its fall from around the 50-day moving average (DMA), at that time around 0.9707, aiming towards the 0.9600 figure, for the first time since early June. At the time of writing, the USD/CHF is trading at 0.9600.

The market sentiment shifted sour as US equities dwindled, trading in the red. The risk-off impulse boosted the Swiss franc, which has accumulated gains of almost 1% in the week, as the USD/CHF has fallen from 09712 to the 0.9600 area. Nevertheless, the uptick of the greenback, as shown by the US Dollar Index, a gauge of the buck’s value against a basket of six peers, gaining 0.24%, sitting at 104.440, capped any USD/CHF falls.

USD/CHF Price Analysis: Technical outlook

Daily chart

From a daily chart perspective, the USD/CHF remains neutral biased. However, once the Relative Strength Index (RSI) collapsed from overbought territory and broke below the RSI’s 7-day SMA, it opened the door for further losses. Besides, the formation of a double top that has failed to be confirmed so far, unless the USD/CHF breaches the necklines around 0.9544, will send the pair tumbling towards 0.9150.

Therefore, the USD/CHF first support would be the 0.9600 figure. A breach of the latter would pave the way towards the double top neckline at 0.9544. Once cleared, the major’s next support would be the 100-day moving average (DMA) around 0.9499.

USD/CHF Key Technical Levels

 


Keep up with latest Forex market news updates: Currencies, central banks, economic indicators for oil and gold trading – all you need to work effectively on Forex.

Market focus

July 2022
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002
Mon
Tue
Wed
Thu
Fri
Sat
Sun
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31

Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.

 
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Pacific Wellington 19:00 04:00 22:00 07:00 22:00 07:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Sydney 21:00 06:00 00:00 09:00 00:00 09:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Asian Tokyo 23:00 08:00 02:00 11:00 02:00 11:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Hong Kong, Singapore 00:00 09:00 03:00 12:00 03:00 12:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
European Frankfurt, Zurich, Paris 06:00 15:00 09:00 18:00 9:00 18:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenCloseе
London 07:00 16:00 10:00 19:00 10:00 19:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
American New York 12:00 21:00 15:00 00:00 15:00 00:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Chicago 13:00 22:00 16:00 01:00 16:00 01:00