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USD/CHF - 0.90 and 0.8850 area Key Levels

There are a couple of key levels for the USD/CHF in the short-term.

The first key level is the 0.90 resistance. The daily chart shows that this is where price is meeting a falling channel resistance, one that goes back to 0.9250 high of Nov. 2013.


(usdchf daily chart)

A break above 0.90 opens up the 0.9158 resistance pivot. Even below this pivot, the market will be testing another falling trendline, this one going back to May 2013.

Looking at the 4H chart, we see that the May rally is stalling. If price retreats from the 0.90 handle, failing to break the falling channel resistance, the bearish mode is still intact. A break below 0.8850 should be a sign that the market is still bearish, or maybe at most sideways. The focus would still be back toward the 0.87 lows/support.


(usdchf 4h chart)