#USDCHF @ 0.95851 -imp levels: is registering a weekly gain of 1.86%, the biggest since June 2022.

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• USD/CHF is registering a weekly gain of 1.86%, the biggest since June 2022.
• A break above 0.9600 could pave the way towards 0.9700.

The pair currently trades last at 0.95851.

The previous day high was 0.9572 while the previous day low was 0.9498. The daily 38.2% Fib levels comes at 0.9543, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9526, expected to provide support.

The USD/CHF advances for the six-straight day, on broad US dollar strength across the board, after breaking above the 20-day EMA at 0.9532 on Thursday. During the day, the USD/CHF hit a daily low at 0.9553, before climbing towards its daily high, shy of the 0.9600 figure, before settling at current exchange rates. At the time of writing, the USD/CHF is trading at 0.9587, up by 0.29%.

From a daily chart perspective, the USD/CHF is neutral-to-upward biased. Thursday’s break above a descending channel opened the door for a move to the confluence of the 50/100-day EMAs around 0.9635-41, but firstly USD/CHF buyers will need to reclaim the 0.9600 figure on their way north.

The four-hour scale shows the USD/CHF faced solid resistance at the R1 daily pivot nearby the 0.9600 figure before dipping towards 0.9553. However, buyers re-emerged at the latter, pushing prices higher, but as the end of the week looms, a break above 0.9600 is almost impossible to achieve.

If the above scenario plays out, the USD/CHF first supply zone would be the 200-EMA at 0..9622, followed by the August monthly high at 0.9651, followed by the July 22 high at 0.9704. On the flip side, the USD/CHF first support will be 0.9551. Break below will expose the 20-EMA at 0.9537, followed by the 100-EMA at 0.9515.

USD/CHF 4-Hour chart

Technical Levels: Supports and Resistances

USDCHF currently trading at 0.9589 at the time of writing. Pair opened at 0.9569 and is trading with a change of 0.21 % .

The pair is trading above its 20 Daily moving average @ 0.954, below its 50 Daily moving average @ 0.9647 , below its 100 Daily moving average @ 0.9643 and above its 200 Daily moving average @ 0.9439

The previous day high was 0.9572 while the previous day low was 0.9498. The daily 38.2% Fib levels comes at 0.9543, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9526, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.9521, 0.9473, 0.9447
• Pivot resistance is noted at 0.9594, 0.962, 0.9668

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