USD/CHF: technical analysis and trading recommendations_03/28/2022

 
 
 
 
 
 
 

As of this writing, USD/CHF is traded near 0.9350 mark, down from an intraday high of 0.9380 hit during the Asian session.

USD/CHF W Chart

Since the beginning of 2021 USD/CHF has been growing. Its uptrend is clearly visible on the weekly price chart, where USD/CHF remains within the rising channel. Its upper border is between 0.9460 (local maximum) and 0.9465 (resistance level in the form of a Fibonacci 50% of the upward correction to the downward wave that began in April 2019 near 1.0235).

USD/CHF D Chart

The pair maintains positive momentum, trading in the area above the important long-term support level 0.9215 (EMA200 on the daily chart, EMA50 on the weekly chart).

In case of a breakdown of the key resistance level 0.9410 (EMA200 on the weekly chart), USD/CHF will finally move into the bull market zone, and the marks 0.9460, 0.9495 will become the nearest growth targets for the pair.

USD/CHF H4 Chart

In an alternative scenario, the decline in USD/CHF will resume. The first sell signal will be a breakdown of the support level 0.9322 (EMA200 on the 1-hour chart and the Fibonacci level 38.2%). The targets of the downward correction will be the support levels 0.9284 (EMA200 on the 4-hour chart), 0.9265 (EMA50 on the daily chart).

USD/CHF H1 Chart

However, the decline to the support level 0.9215 will still be considered a downward correction, but its breakdown may once again push USD/CHF into the bearish market.

 In the current situation, the main scenario for further growth of USD/CHF is preferable.

Support levels: 0.9338, 0.9322, 0.9284, 0.9265, 0.9215, 0.9160, 0.9107, 0.9085

Resistance levels: 0.9370, 0.9410, 0.9460, 0.9495, 0.9670, 1.0000, 1.0235, 1.0480

Trading recommendations

Sell Stop 0.9315. Stop Loss 0.9375. Take-Profit 0.9300, 0.9284, 0.9265, 0.9215, 0.9160, 0.9107, 0.9085

Buy Stop 0.9375. Stop Loss 0.9315. Take-Profit 0.9410, 0.9460, 0.9495, 0.9670, 1.0000, 1.0235, 1.0480