USD/CHF Price Analysis: Greenback off fresh 2020 highs, trades above 0.9800 figure

 

 

USD/CHF is easing after hitting new 2020 highs this Friday. The quote is trading below the 100/200-day simple moving averages suggesting an overall bearish bias.

 

 

The market broke above the 0.9800 figure and the rising wedge upper trendline. If bulls maintain the market above the 0.9800 figure it would be considered a bullish sign which can lead to further gains towards the 0.9830 and 0.9850 levels. On the flip side, a daily close below the 0.9800 figure could see a re-integration of the wedge with a potential decline towards the 0.9770 level.