- USD/CHF failed to break above Tuesday’s high and fell back near the 0.9840 level former congestion zone on Tuesday and near Monday’s low. The level is an important support and a bear breakout can open the gates towards 0.9788 last week’s low.
- A reversal up from the current level would likely see a retest of the 0.9862 level with the 200-period simple moving average on the 15-minute chart.
USD/CHF 15-minute chart
Spot rate: 0.9848
Relative change: -0.21%
Trend: Neutral to bullish
Resistance 1: 0.9862, 200-period SMA (15m)
Resistance 2: 0.9896 current Wednesday’s high
Resistance 3: 0.9884 May 29 swing high
Support 1: 0.9829-0.9840 Tuesday’s low and former congestion zone
Support 2: 0.9788 last week’s low
Support 3: 0.9700 figure