USD/CHF started a bullish trend on 29th of June 2022. While ascending, a dynamic support level was formed below the price line. The bullish trend caused the price on USD/CHF price chart to ascend more than 3.76% until 12th of July 2022, when the price line reached out to a resistance level at 0.98500. After a smooth correction phase, the price line is now once more retesting the resistance zone and is expected to enter a descending wave in the next few hours. Sellers can set their orders on 0.98300 and target 0.97260, and 0.96750. Traders with smaller risk appetite, can be waiting for the price line to break below the black ascending trend line on the chart, then they can enter short positions on the retest of this trend line. RSI index is indicating a bearish wave moreover MACD is showing bearish wave on going, MACD bars are turning red.

• There is resistance at 0.98500 followed by resistance at 0.99420 and 0.99999
• There is support at 0.97830 below, there is 0.97260 and 0.96750.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruacdtion for trading.