USDCHF reaches parity for the 1st time since December 2019

USDCHF is up 25 out of 30 trading days

USDCHF traded at – and above – the parity level for the first time since December 2019. The high price reached 1.0001. The current price is just below this level.

USDCHF has been on a steady rise lately with the pair up for 6 straight weeks. During this period, the price rose 25 days out of 30. The March 31 low reached 0.91942. Today’s high price near parity implies a gain of 807 pips over 30 days. There was little corrective action during this higher run.

Moving down to the hourly chart below, yesterday was one of the bearish trading days and also one of the few times the price traded below the 100 hourly moving average (blue line in the graph below).

In fact, the price traded below the blue line on 2 occasions as the CPI data sent the pair’s price into a volatile up and down move. Yesterday’s high stalled ahead of Tuesday’s trade highs at 0.99743. The high reached 0.99632.

Today the pair was able to cross above the swing high zone below 0.9963 and the swing high zone above 0.99743 in the last hour of trading. This area is now close support. Stay above 0.9963 – 0.99743 and the buyers remain in firm control. Move below and the rising 100 hourly MA will remain as another bearish target that should be breached to increase the bearish bias. This MA currently comes in at 0.99276.

Moving below – and STAYING below – is necessary to increase the bearish bias. Until then, the sellers do not win.

USDCHF reaches parity for the 1st time since December 2019



Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
Back to top button