- The USD/CHF is approaching the peak of a two-month-old triangle formation.
- Daily charts show the pair capped below triangle resistance, at 0.9730.
The daily chart shows the pair printing lower highs and higher lows, squeezed within ever-narrowing limits approaching the peak of a triangle shape. With the pair supported so far above the 50-day SMA, a daily close above trendline resistance, right now around 0.9730 would set the dollar aiming towards the 200-day SMA at 0.9785 on its way to March 23 highs at 0.9900.
On the downside, the 50 and 100-day SMA, at 0.9685/0.9700 are closing the path towards trendline support at 0.9650 and May 1 low at 0.9590.
USD/CHF daily chart
USD/CHF key levels to watch