USD/CHF Technical Analysis. The USD/CHF pair has After a period of relative stability, the USD/CHF pair is attempting to establish a new support base above 0.8310, supported by a gradual rise in the US Dollar Index. These movements come as the market awaits US inflation figures, leaving the pair in a delicate position in the short term.
USD/CHF Technical Analysis: Technical Overview:
The pair is currently trading at 0.8310, after successful attempts to consolidate above the 0.8298 support level. The pair is moving within a small ascending channel that began on May 7, with higher highs and lows, reflecting a gradual improvement in technical momentum. The price is now trading above all major moving averages on the H1 timeframe.
Technical Indicator Analysis:
MACD: Stable in positive territory, but the bars have started to decline, indicating a potential temporary slowdown in momentum.
Stochastic: It is declining from overbought levels, supporting the possibility of a limited correction before the trend continues.
Moving Averages: The price is stable above the 20, 50, and 100 moving averages, confirming the continuation of the intraday upward trend.
Expected Scenarios
Negative Scenario:
A break of the 0.8298 support could lead to a rapid decline towards 0.8265, then 0.8240, especially if US data is negative or the dollar
Bullish Scenario:
If the pair maintains trading above 0.8310 and succeeds in breaking the 0.8328 resistance, we may see an upward extension towards 0.8350 and then 0.8383.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | USDCHF |
| 0.83158 | 0.82981 | Entry point |
| First resistance: 0.83388 | First support: 0.82689 | Target Point 1 (TP1) |
| Second resistance 0.83688 | Second support 0.82389 | Target Point 2 (TP2) |
| 0.82981 | 0.83158 | Stop Loss (SL) |
The intraday trend for the USD/CHF pair remains positive as long as the price remains above 0.8298. A break above this level could invalidate the rising bottom pattern and push the pair back into a sideways trend. Conversely, a break above 0.8328 would push the pair to new upward levels.
