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USD/CHF: Weekly Technical Analysis | 2nd - 6th November, 2020




USD/CHF: Weekly Technical Analysis | 2nd – 6th November, 2020

  • Update Time : Monday, November 2, 2020
  • 78 Time View
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USD/CHF: Technical Analysis | November 26, 2020
USD/CHF: Technical Analysis | November 26, 2020

Weekly Time Frame:

Losses in previous weeks have been recovered from the weekly price support level 0.9014 last week. Current support survives for ABCD support 0.9051 (black arrows).

If the price rises this week, all eyes will be on resistance above 0.9255, which was previously the Quasimodo support level.

Daily Time Frame:

Daily price closed at Resistance 0.9187 last week in the Daily Time Frame due to Quasimodo support 0.9009. If the price increases by breaking this resistance level, the price will target the trend line resistance starting from the maximum 0.9901 .

H4 Time Frame:

On Thursday, the price tested at 0.9091 due to four-hour support and trend line resistance (currently support) 0.91. The price moved above the August opening level of 0.9135 on Friday.

The four-hour price will target Quasimodo resistance 0.9184, raising the price for five consecutive days on Friday, followed by the 0.92 handle and the October opening level of 0.9206.

Important Things To Consider:

  • In the four-hour time frame, the price could be tested at the August opening level of 0.9135, allowing buyers to enter the market and target the four-hour Quasimodo resistance at 0.9184.

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