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February was a GOOD month for USD/CHF, as it found bottom at .9060 to jump allll the way to its current .9420 levels.

But can USD/CHF bulls keep up the pressure?

USD/CHF: 1-hour

USD/CHF 1-Hour Forex Chart

USD/CHF 1-Hour Forex Chart by TradingView

Both the 1-hour chart’s 100 and 200 SMAs are still pointed higher, which can support further buying.

But USD/CHF has stalled in a 75-pip range between .9425 and .9350 after a sharp upswing last week. The range’s resistance, in particular, was also a major inflection point back in November and December.

And then there’s Stochastic, which just hit overbought status.

USD/CHF’s next direction might depend on how many risk-averse traders pick USD over CHF amidst the Fed’s hawkish expectations and higher Treasury yields.

Increased USD demand could bust USD/CHF above its consolidation and retest levels not seen since December. .9460 is a good area to watch though the pair could also hit .9500 if there’s enough momentum.

Meanwhile, concerns for the U.S. economy or risk-taking in other markets might drag the dollar lower against CHF.

If it’s looking like the .9425 range resistance is holding, then you gotta be ready to trade a possible trip to the .9380 mid-range levels or the .9350 support closer to the 200 SMA.

This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.