A local flirting with the resistance or a serious intention to break through? We will examine the price action of GBP against CHF on high timeframes to answer this question.
Tag - chf - swiss franc
Black Friday for the currency market: the Non-Farm Payrolls are out!
What will shake markets today
The attempt of AUD/CHF to overcome 0.6800 so far hasn’t been successful. The pair formed a “spinning top” candlestick on the D1 on Tuesday.
The comment by the US President Donald Trump resulted in the sell-off of the risk-weighted currencies...
For the past couple of days, USD/CHF has been consolidating below the resistance line that connects the highs of October and November in the 0.9990 area.
This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
Today, the euro shows a double-top pattern against the CHF, which may be used by the bears if the pattern is confirmed.
USD/CHF is supported by the 50-day MA at 0.9917. The doji candlestick that formed on the D1 yesterday signals the market uncertainty.
Technical analysis of USD/CHF
Have a look at the chart of CAD/CHF: the pair is testing daily moving averages.