USD/CHF Aims Higher
USD/CHF is rising and might aim a move toward the 0.9055 resistance.
Important Takeaways for USD/CHF Analysis Today
· USD/CHF is recovering higher above the 0.8945 resistance zone.
· There is a key rising channel forming with support near 0.8970 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 0.8900 support. The US Dollar gained climbed above the 0.8945 resistance zone against the Swiss Franc.
The pair cleared the 50% Fib retracement level of the downward move from the 0.9056 swing high to the 0.8901 low. It is now trading above the 0.8970 level and the 50-hour simple moving average.
On the upside, the pair is now facing resistance near 0.9000. It is close to the 61.8% Fib retracement level of the downward move from the 0.9056 swing high to the 0.8901 low. The next major resistance is near the 0.9040 level.
If there is a clear break above the 0.9040 resistance zone, the pair could start another increase. In the stated case, it could even surpass 0.9055.
On the downside, immediate support on the USD/CHF chart is near a key rising channel at 0.8970 and the 50-hour simple moving average. The first major support is near the 0.8945 level. The next major support is near the 0.8900 level. Any more losses may possibly open the doors for a move toward the 0.8880 level or even 0.8850 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 recovering higher above the 0.8945 resistance zone.
· There is a key rising channel forming with support near 0.8970 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 0.8900 support. The US Dollar gained climbed above the 0.8945 resistance zone against the Swiss Franc.
The pair cleared the 50% Fib retracement level of the downward move from the 0.9056 swing high to the 0.8901 low. It is now trading above the 0.8970 level and the 50-hour simple moving average.
On the upside, the pair is now facing resistance near 0.9000. It is close to the 61.8% Fib retracement level of the downward move from the 0.9056 swing high to the 0.8901 low. The next major resistance is near the 0.9040 level.
If there is a clear break above the 0.9040 resistance zone, the pair could start another increase. In the stated case, it could even surpass 0.9055.
On the downside, immediate support on the USD/CHF chart is near a key rising channel at 0.8970 and the 50-hour simple moving average. The first major support is near the 0.8945 level. The next major support is near the 0.8900 level. Any more losses may possibly open the doors for a move toward the 0.8880 level or even 0.8850 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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