The Swiss Franc[1] has fallen more than 2.7% against the US Dollar from the mid-August / yearly extremes with USD/CHF[3] stretching into key resistance this week. The advance remains vulnerable while below this threshold with the weekly opening-range now in focus. These are the updated targets and invalidation levels that matter on the USD/CHF charts. Review this week's Strategy Webinar for an in-depth breakdown of this Sterling price setup and more.[2][4][5][6]
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Swiss Franc Price Chart – USD/CHF Daily
Chart Prepared by Michael Boutros, Technical Strategist; USD/CHF on Tradingview[9][10]
Technical Outlook: In my most recent Swiss Franc Trade Outlook, we noted that USD/CHF was approaching a major, “resistance zone at 9931/48 – a region defined by the 100% ext of the August advance and the 50% retracement of the yearly range.” Out bottom line cited that we were,“looking for a pivot here with the broader advance at risk while below 9951.” Price registered a high this week at 9946 before turning lower with Swissy poised to mark an outside-day reversal off fresh monthly highs today. [11][12]
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Swiss Franc Price Chart – USD/CHF 120min
Chart Prepared by Michael Boutros, Technical Strategist; USD/CHF on Tradingview[14][15]
Notes: A closer look at Swissy price action sees USD/CHF trading within the confines of an ascending pitchfork formation extending off the August lows with the recent advance holding below the
