USD/CHF: a new growth driver? Or decline?

USD/CHF: a new growth driver? Or decline?

10 August 2022, 12:44
Yuri Papshev

On the eve of the publication (at 12:30 GMT) of the latest US inflation data, would like to pay attention to the USD/CHF pair, which has come close to the key support level of 0.9485. From this level, either a good rebound and the resumption of the positive dynamics of the pair is possible, or its breakdown with the risks of further decline to the next key level 0.9450, which separates the long-term bullish trend of the pair from the bearish one.

In the main scenario, after the breakdown of the important resistance levels at 0.9540, 0.9570, USD/CHF will head towards the resistance levels at 0.9635, 0.9670 (for more details, see "USD/CHF: technical analysis and trading recommendations for 08/10/2022").

Support levels: 0.9495, 0.9485, 0.9450, 0.9415

Resistance levels: 0.9540, 0.9570, 0.9635, 0.9670

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