Overview:
USD/CHF continues to range trade. The rate is undermined by weaker USD sentiment. But USD/CHF losses tempered by broadly stronger demand for safe-haven USD amid heightened risk aversion.
preference:
Sell below 0.9465 with targets 0.941 and 0.9385.
Support Levels:
S1 - 0.941
S2 - 0.9385
S3 - 0.9374 (Nov. 7 low), then 0.9309 (Nov. 2 low), 0.9291 (Nov. 1 low), and 0.9273 (Oct. 31 low).
Alternative scenario:
Buy above 0.9465.The upside breakout of 0.9465 will open the way to 0.949 and 0.9515.
Resistance Levels:
R1 - 0.949
R2 - 0.9515 (Tuesday's high)
0.9532 (100-day moving average)
Technical Comment:
The pair stands below its new resistance and remains under pressure. Daily chart is mixed as MACD is bullish, but stochastics turning bearish at overbought.