Bouncing.
(By Peter Rosenstreich)
• USD/CHF displayed some buying interest near
the support at 0.9778 (downtrend line support)
yesterday. However, prices need to break the
key resistance at 0.9879 (downtrend resistance)
to improve the short-term upside potential. Key
support and resistance are given at 0.9755
(10/01/2018 low) and 1.01 (11/05/2017 high). The
technical structure suggests short-term sideways
trading moves.
• In the long-term, the pair is still trading in
range since 2011 despite some turmoil when the
SNB unpegged the CHF. Key support lies at
0.9072 (07/05/2015 low) while resistance at
1.0344 (15/12/2016 high) is distanced. The
technical structure favours a long term bullish
bias since the unpeg in January 2015.
