Technical Analysis USD / CHF: Rebound From Bullish Flag Support, Preparing To Strengthen Further

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Technical Analysis USD / CHF: Rebound From Bullish Flag Support, Preparing To Strengthen Further

Bullish moving averages cross-over on the daily chart supports bullish chart pattern formation.
Moving back above the 50-day SMA now seems to pave the way for a continuation of the ongoing riding movement.
Short-term technical indicators have not moved in positive territory and may hinder further increases.

Spot Rate: 0.9849
Daily Low: 0.9792
Trends: Bullish

Resistance
R1: 0.9846 (horizontal level)
R2: 0.9902 (R2 pivot-point daily)
R3: 0.9930 (bullish flag resistance)

Support
S1: 0.9821 (pivot-point daily)
S2: 0.9800 (round number)
S3: 0.9788 (six-week low yesterday)

 

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