USD/CHF continues to advance as bulls gain momentum. Next resistance levels: psychological 0.9050, followed by 0.9100 and May 24 high of 0.9158. Key support levels: 50-DMA at 0.9029, followed by the 0.9000 figure and 100-DMA at 0.8982. It traded at 0.9042 on Tuesday, above its opening price of 0.20%. USD/CHF Price Analysis: Technical outlook The USD/CHF resumed its uptrend after a pullback dragged the exchange rate to a three-month low of 0.8826.
This is due to the perceived status of Switzerland in the world: a stable economy, a strong export sector, big central bank reserves or a longstanding political stance towards neutrality in global conflicts make the country’s currency a good choice for investors fleeing from risks. Turbulent times are likely to strengthen CHF value against other currencies that are seen as more risky to invest in.
Source: Digital Coin News (digitalcoinnews.net)
Majors Technical Analysis
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