USD/CHF: technical analysis

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03/23/2020

USD/CHF, H4

On the 4-hour chart, the uptrend is still in effect. The instrument returned to growth after a short correction and is trading between the middle line and the upper border of Bollinger bands. The indicator cloud has expanded, it is likely that growth will remain in the short term. The MACD histogram is in the positive area, maintaining a steady signal to open buy orders. Stochastic is in the neutral zone, the oscillator lines are pointing downwards, a sell signal is being saved.

USD/CHF, D1

An uptrend is forming on the daily chart. The instrument tests the upper border of Bollinger bands for a breakout. The indicator cloud is greatly expanded, which indicates the likely preservation of upward dynamics in the medium term. The MACD histogram is in the positive area, gradually increasing volumes, the signal line is preparing to cross the zero line upwards, after which a signal to open long positions will be generated. Stochastic crossed the border of the overbought zone upwards, a buy signal remains.

Key levels

Resistance levels: 0.9900, 0.9950, 1.0000.

Support levels: 0.9795, 0.9715, 0.9630, 0.9550.

Trading tips

Long positions may be opened from the current level with the target at 0.9950. Stop loss is 0.9830.

Short positions may be opened from the level of 0.9790 with the target at 0.9720 and stop loss 0.9830.

Implementation period: 1–3 days.

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