An asset slipping through the cracks of attention this week is USD/CHF. While everyone is focused on earnings season and oil, the pair has quietly flipped a year-long resistance area into support and has just embarked upon its move higher into price discovery.
USD/CHF on the Daily Timeframe
Our downside support areas are thus clearly established, with immediate support to be found between 0.808 and 0.813. Further down, there’s a secondary support zone with slightly lower importance ranging from 0.801-0.804.
If we want to find upside targets for this move to extend to, however, we will need to move up to the weekly timeframe.
USD/CHF on the Weekly Timeframe
Doing so reveals 0.833 as the most obvious answer. The area combines the H1 2024 low, the H2 2024 low and the May 2025 spike high. This range is tight, but seems very strong, and the fact that it’s a couple of years old does not mean it has a lower effectiveness. Markets take prior support and resistance levels forward and tend to continue respecting them.