USD/CHF Bulls in Control
USD/CHF is rising and might aim a move toward the 0.9060 resistance.
Important Takeaways for USD/CHF Analysis Today
· USD/CHF is gaining pace above the 0.9000 resistance zone.
· There is a key bearish trend line forming with resistance near 0.9020 on the hourly chart at FXOpen.
USD/CHF Technical Analysis
On the hourly chart of USD/CHF at FXOpen, the pair started a decent increase from the 0.8940 support. The US Dollar gained climbed above the 0.8990 resistance zone against the Swiss Franc.
The pair cleared the 50% Fib retracement level of the downward move from the 0.9062 swing high to the 0.8940 low. It is now trading above the 0.9000 level and the 50-hour simple moving average.
On the upside, the pair is now facing resistance near a key bearish trend line at 0.9020. It is close to the 61.8% Fib retracement level of the downward move from the 0.9062 swing high to the 0.8940 low. The next major resistance is near the 0.9060 level.
If there is a clear break above the 0.9060 resistance zone, the pair could start another increase. In the stated case, it could test 0.9120.
On the downside, immediate support on the USD/CHF chart is near 0.9000. The first major support is near the 50-hour simple moving average at 0.8990. The next major support is near the 0.8970 level. Any more losses may possibly open the doors for a move toward the 0.8974 level or even 0.8920 in the coming days.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Important Takeaways for USD/CHF Analysis Today
· USD/CHF is gaining pace above the 0.9000 resistance zone.
· There is a key bearish trend line forming with resistance near 0.9020 on the hourly chart at FXOpen.
USD/CHF Technical Analysis
On the hourly chart of USD/CHF at FXOpen, the pair started a decent increase from the 0.8940 support. The US Dollar gained climbed above the 0.8990 resistance zone against the Swiss Franc.
The pair cleared the 50% Fib retracement level of the downward move from the 0.9062 swing high to the 0.8940 low. It is now trading above the 0.9000 level and the 50-hour simple moving average.
On the upside, the pair is now facing resistance near a key bearish trend line at 0.9020. It is close to the 61.8% Fib retracement level of the downward move from the 0.9062 swing high to the 0.8940 low. The next major resistance is near the 0.9060 level.
If there is a clear break above the 0.9060 resistance zone, the pair could start another increase. In the stated case, it could test 0.9120.
On the downside, immediate support on the USD/CHF chart is near 0.9000. The first major support is near the 50-hour simple moving average at 0.8990. The next major support is near the 0.8970 level. Any more losses may possibly open the doors for a move toward the 0.8974 level or even 0.8920 in the coming days.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
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