CHF gets smashed in trading today

Technical Analysis

Author: Greg Michalowski | chf

GBPCHF runs 1.35%

The CHF pairs are all running with the CHF getting hit hard.

Looking at the % changes of the CHF pairs, the currency is down the most vs GBP (-1.35%) and CAD (-1.21%), but the current snapshot shows declines of -0.80% to -1.35% vs the major currencies. 

GBPCHF runs 1.35%Looking at the changes below, the pairs vs the CHF are all trading at session highs (lower CHF).  The GBPCHF is up 173 pips and 102 pips vs the EUR. 

CHF changes in pips
Looking at the hourly chart of the GBPCHF (the biggest mover), the price has accelerated above a topside channel trend line today on its way to the highs.  The pair is currently trading at 1.2774. The next key target comes in at 1.2828 to 1.2831. That was swing lows going back to January and February 2020. Toward the end of February, the price broke below those levels and raced to the March 2020 low all the way down at 1.1112 (on flight to safety flows). The broken trend line comes in at 1.2693.

Looking at the daily chart of the USDCHF, the price has moved above the swing area between 0.90312 to 0.90495.  Stay above that area now and the buyers our in control. The topside trend line on the daily chart below comes in at 0.9082.

USDCHF on the daily
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