USD/CHF Price Analysis: Bulls attack 100-SMA around 0.9200
|- USD/CHF seesaws around key SMA hurdle, recovers from intraday low.
- Sustained trading beyond 200-SMA, bullish MACD signal further advances.
- Monthly resistance line adds to the upside filters.
USD/CHF holds onto the bounce off intraday low near 0.9193, reversing early Asian losses, amid the initial Monday’s trading. In doing so, the major currency pair keeps bounce off 200-SMA while attacking the 100-SMA resistance.
In addition to the successful up-move past 200-SMA, bullish MACD also favors the pair buyers to pass the 0.9200 nearby challenge.
However, any further north-run will need a clear break of a downward sloping trend line from July 02, near 0.9250, to refresh the monthly high of 0.9274.
Meanwhile, pullback moves may take a breather around 200-SMA level of 0.9130, a break of which will direct USD/CHF sellers to battle the monthly low near 0.9115.
In a case where USD/CHF refreshes monthly bottom, the 0.9100 threshold will be the key support to watch before eyeing the mid-June tops surrounding the 0.9000 psychological magnet.
To sum up, USD/CHF bulls keep the reigns ahead of a bumpy road to the north.
USD/CHF: Four-hour chart
Trend: Further recovery expected
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.