The currency pair USD/CHF has been trading within a narrow range of 0.8765 to 0.8830 for the past eight days and is currently positioned close to the middle point of the 0.8700 to 0.8800 range.

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• USD/CHF trades in a tight 0.8765 to 0.8830 range for eight days, currently sitting near the mid-point of the 0.8700/0.8800 range.

The pair currently trades last at 0.87743.

The previous day high was 0.8809 while the previous day low was 0.8765. The daily 38.2% Fib levels comes at 0.8793, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.8782, expected to provide resistance.

USD/CHF has been trading within a narrow range of 0.8765 to 0.8830 for the past eight days, following a break of the 0.8600 figure. At the time of writing, the USD/CHF is trading beneath the 50-DMA, at around the mid-point of the 0.8700/0.8800 range, as the Asian session begins.

After breaching the 0.8800 figure, the USD/CHF remains subdued, unable to break above or below the 0.8765/0.8830 range for the last eight days. It should be said the major oscillates around the 50-day Moving Average (DMA) at 0.8798, trading on both sides of the DMA, while investors remain undecided to take a clear direction.

From an intraday point of view, the USD/CHF one-hour chart portrays the pair as neutral to downward biased, as it was set to finish Wednesday’s session near the lows of the day/week. Hence, the USD/CHF next support would be the current week’s low of 0.8764, followed by the S2 daily pivot at 0.8746. A decisive break would expose the August 11 daily low of 0.8767.

On the flip side, the USD/CHF first resistance would be the confluence of the daily pivot point and the 200-hour Moving Average (HMA) at 0.8789/90. If the pair clears that level, the pair’s next stop would be the R1 pivot point at 0.8806, followed by the August 23 high at 0.8817.

Technical Levels: Supports and Resistances

USDCHF currently trading at 0.8778 at the time of writing. Pair opened at 0.8804 and is trading with a change of -0.3 % .

The pair is trading above its 20 Daily moving average @ 0.8754, below its 50 Daily moving average @ 0.8805 , below its 100 Daily moving average @ 0.8897 and below its 200 Daily moving average @ 0.9094

The previous day high was 0.8809 while the previous day low was 0.8765. The daily 38.2% Fib levels comes at 0.8793, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.8782, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.8777, 0.8749, 0.8733
• Pivot resistance is noted at 0.8821, 0.8837, 0.8865

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