USD/CHF Headed to .99?

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Last Updated: 10 min ago

Earlier this month we discussed some key technical break-out levels for the USD/CHF along with how a drop below 78.6% support near 1.0240 would likely send the swissy down to converging support around .9930 (defined by an emerging weekly bullish Gartley pattern here ) with some minor support coming in around 8hr bullish butterfly pattern completion near 1.0110 and 1.0017 (below).

After a couple days of expected consolidation, prices managed to break below 1.0240 and quickly dropped down to the first bearish break-out level near 1.0117 (first 8hr bullish butterfly pattern completion) before posting a brief ~100 pip rally. Prices have since dipped below this level, and this morning spike has found 61.8% resistance near 1.017. We would now expect another surge lower to 1.0017 where we may find similar support especially if prices manage new lows (below 1.0080). Likewise, a close below 1.00 would likely send the USD/CHF down to .9932 where we may see a more significant rally due to the long-term confluence of support and bullish Gartley pattern completion (see " USD/CHF Break Out Levels... ").

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currency recommendation
NZD/CAD
Medium term



Sell Sell at .7320
Stop at 0.7363
Target at 0.7255
GBP/JPY
Medium term



Sell Sell at 139.2700
Stop at 140.39
Target at 137.58
GBP/JPY
Short term



Sell Sell at 139.1200
Stop at 139.82
Target at 137.51
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QUOTEBOARD

  • Key Quotes
  • Currencies
  • Markets
  •  
  • current
  • high
  • low
 
  • EUR/USD
  • down
  • 1.3783
  • 1.3787
  • 1.3763
EUR/USD
5 min chart
  • GBP/USD
  • down
  • 1.5214
  • 1.5244
  • 1.5214
GBP/USD
5 min chart
  • USD/JPY
  • down
  • 90.53
  • 90.66
  • 90.03
USD/JPY
5 min chart
  • OIL
  • down
  • 82.07
  • 82.17
  • 81.71
CLJ0
5 min chart
  • GOLD
  • up
  • 1127.8
  • 1128.9
  • 1126.6
.GOLD
5 min chart
  • US Stocks
  • up
  • 10700
  • 10702
  • 10679
.US30
5 min chart
  • UK Stocks
  • up
  • 5636.0
  • 5637.0
  • 5622.0
.UK100
5 min chart
  • DEM Stocks
  • up
  • 5984.8
  • 5986.0
  • 5972.2
.DE30
5 min chart
  • JP Stocks
  • up
  • 10843
  • 10853
  • 10753
.JP225
5 min chart
  •  
  • current
  • high
  • low
 
  • EUR/USD
  • down
  • 1.3783
  • 1.3787
  • 1.3763
5 min chart
  • GBP/USD
  • down
  • 1.5214
  • 1.5244
  • 1.5214
  • USD/JPY
  • down
  • 90.53
  • 90.66
  • 90.03
  • USD/CHF
  • down
  • 1.0543
  • 1.0556
  • 1.0537
  • USD/CAD
  • up
  • 1.0139
  • 1.0141
  • 1.0131
  • AUD/USD
  • down
  • 0.9179
  • 0.9192
  • 0.9173
  • NZD/USD
  • down
  • 0.7112
  • 0.7126
  • 0.7104
  • USD/MXN
  • down
  • 12.5140
  • 12.5162
  • 12.5112
  • EUR/JPY
  • up
  • 124.79
  • 124.97
  • 124.08
  • GBP/JPY
  • down
  • 137.74
  • 138.04
  • 137.10
  •  
  • current
  • high
  • low
 
  • OIL
  • down
  • 82.07
  • 82.17
  • 81.71
5 min chart
  • GOLD
  • up
  • 1127.8
  • 1128.9
  • 1126.6
5 min chart
  • SILVER
  • down
  • 17.464
  • 17.47
  • 17.417
5 min chart
  • US500
  • down
  • 1161.1
  • 1161.9
  • 1158.9
5 min chart
  • UK Stocks
  • up
  • 5636.0
  • 5637.0
  • 5622.0
5 min chart
  • DEM Stocks
  • up
  • 5984.8
  • 5986.0
  • 5972.2
5 min chart
  • JP Stocks
  • up
  • 10843
  • 10853
  • 10753
5 min chart
  • AU Stocks
  • down
  • 4851.0
  • 4862.0
  • 4819.0
5 min chart
Data source: GFT

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