13 Aug 2019
USD/CHF technical analysis: Greenback jumps and settles above 0.9726 as tariffs gets delayed
- CHF is down sharply as Wall Street indices shoot higher.
- USTR additional tariffs on some products will be delayed to December 15.
- The level to beat for bulls are seen at 0.9753 and 0.9771 resistances.
USD/CHF daily chart
USD/CHF is trading off 2-month lows below the main daily simple moving averages (DSMAs). US equity markets are rising sharply as US tariffs are to be delayed to December 15. The news was perceived as risk-on, sending safe-haven CHF, JPY and gold down.
USD/CHF 4-hour chart
USD/CHF broke through several resistance levels but is still trading below its main SMAs. Bears would need to recapture 0.9726 and 0.9694 support to reverse the bullish surprise.
USD/CHF 30-minute chart
USD/CHF is trading above its main SMAs, suggesting bullish pressure in the near term. The move up is significant and more upside is likely in the coming day. The level to beat for bulls are seen at 0.9753, 0.9771, 0.9790 and 0.9812 resistances, according to the Technical Confluences Indicator.
