USDCHF Technical Analysis – May 19, 2021

USDCHF fell on Tuesday, and the technical bias is bearish due to lower lows in the recent downtrend.

The pair is currently trading near 0.89766, and multiple resistance levels can be seen above, which may further increase the price.

  • Resistance level 1: 0.90000
  • Resistance level 2: 0.90350
  • Resistance level 3: 0.90930

Below the price, multiple support levels can be found, and the price may be maintained above this level.

  • Support level 1: 0.89300
  • Support level 2: 0.88900
  • Support level 3: 0.88450

The Fed will announce the minutes of the last interest rate meeting to further elaborate on the Fed’s monetary policy stance and line on Thursday. The Hawkish view indicates favorable to the US dollar, which is a positive indicator for the USCHF currency pair, and vice versa.

Looking at the current price trend and economic development, selling the USCHF currency pair near the current level is a good trading option.