“USD/CHF continues to avoid a pattern break at this time,” says the FXMarketAlert s Team. “200-day MA at 0.9398 acts as a cap in the hours ahead, but generally the market is still quite choppy around the 200-day MA. There is nothing to hang our hat on to the downside either unless the market starts to take out support at 0.9356/32.”
At the time of writing, USD/CHF is quoted in the 0.9380 price zone. The FXMarketAlerts Team identifies support at 0.9356 (27 Sep low), 0.9350 (break level) and 0.9342 (intraday level). To the upside, resistance is noted at 0.9398 (200-day MA), 0.9419 (13 Sep high) and 0.9430 (break level).