Technical analysis

13 May 2022

19:36 USD/CHF is trading near a 3-year high

Today, the USD/CHF pair is trading mainly with a decline from Chf1.0040 to Chf1.0000 after rising yesterday to a 3-year high of Chf1.0050. On the hourly chart, the pair remains above the moving average line MA (200) H1 (Chf0.9890) and on the four-hour chart - above MA (200) H4 (Chf0.9555). Technically speaking, the resistance of Chf1.0050 can keep prices from rising further. The lower bound of Chf0.9870 represents the support level.

It is worth noting that the 14-day relative strength index (RSI (14) on D1) is above the level of 70, which signals a possible change in the direction of price movement.


Resistance levels are: Chf1.0050, Chf1.0095, Chf1.0120


Support levels are: Chf0.9930, Chf0.9870-90, Chf0.9830


The main scenario for the pair's promotion — the resistance breakout is Chf1.0050 (May 11 high) and there may be an increase to Chf1.0095 (May 28 and 30’ 2019 high)

An alternative scenario — support breakout is Chf0.9930 (May 12 low) and there may be a decline to Chf0.9870-90 (May 11 low, MA (200) H1)

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