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12 May 2020
USD/CHF New York Price Forecast: Greenback slips below the 0.9700 figure vs. Swiss franc
- Broad-based USD weakness keeps USD/CHF below 0.9700 level.
- Resistance is seen near the 0.9700 price level initially.
USD/CHF daily chart
USD/CHF is trading below the 0.9700 figure and the 100 and 200 SMAs but above the 50 SMA on the daily chart.
USD/CHF four-hour chart
USD/CHF is easing from the May highs while trading below the 0.9700 figure and the main SMAs on the four-hour chart. Bulls appear to be losing some control as the market is drifting down. Support can be seen near 0.9650 and the 0.9600 levels, but it is still unclear if bears have what it take to get there. In fact, if the market regains the 0.9700 figure the buyers might give another go at the 0.9745 resistance.
Additional key levels