Technical Analysis: USDCHF

USDCHF rose to a one-month high

On Monday, USDCHF continued rising. At one point, it reached a one-month high of 0.7986.

Swiss CPI failed to meet market expectations in May

Swiss CPI, y/y (May) was 0.6%, which was in line with the previous value of 0.6% and was lower than the forecast of 0.8%, and Swiss CPI, m/m (May) was 0.2%, which was lower than the forecast of 0.3% and the prior value of 0.3%, according to the data from the Swiss Federal Statistics Office.

The USDX fell slightly

On Monday, the USDX fell slightly. It ended down 0.07% at 100.00.

The bullish market trend prevailed in the short term

the Chart of the Day

On the chart of the day, USDCHF was prone to fluctuation and climbed. The bullish market trend prevailed. In terms of technical indicators, KDJ went upwards after golden cross occurred, showing that USDCHF will climb further. Investors should focus on whether USDCHF will break through the resistance at 0.804. It will rise with potential resistance at 0.810 if it breaks above 0.804.

4-hour chart

On the 4-hour chart, USDCHF was prone to fluctuation and jumped. The bullish market trend prevailed. In terms of technical indicators, MACD went upwards after golden cross occurred, showing that the market trend is bullish. Investors should focus on whether USDCHF will break through the support at 0.796. It will rise if it retreats but is stable above 0.796.

Key resistance: 0.804,0.810

Key support: 0.796,0.793

Generally speaking, the bullish market trend prevailed in the short term. Investors could buy as USDCHF retreats during the day.