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6 Aug 2019
USD/CHF technical analysis: Buck recovering and Swiss franc dumping help market recovering from monthly lows
- Investors are dumping the safe-haven Swiss franc as the market mood is improving.
- The level to beat for bulls are at 0.9790 and 0.9815 level.
USD/CHF daily chart
USD/CHF is trading off monthly lows below its main daily simple moving averages (DSMAs). Equity markets are recovering from the selloff seen on Monday as China has re-valued the yuan. Investors are selling the safe-haven Swiss franc and buying the greenback.
USD/CHF 4-hour chart
USD/CHF is bouncing from monthly lows while trading below its main SMAs. Bulls would be looking to extend the recovery beyond 0.9790 and 0.9815 resistances.
USD/CHF 30-minute chart
USD/CHF is trading above the 50 and 100 SMA, suggesting a pullback up in the near term. Immediate supports are near 0.9770 and 0.9755, according to the Technical Confluences Indicator.
Additional key levels