USD/CHF Price Analysis: Buyers face three-month resistance near 0.9200
|- USD/CHF remains muted in the early Asian session on Thursday.
- The pair trades below the 50-day SMA for past one week.
- Upside momentum faces pressure in the 0.9220 and 0.9220 zone.
USD/CHF tardes with no clear movement on Thursday. After testing 0.9200 in the US session, the pair retreated and closed below 0.9200. At the time of writing, USD/CHF is trading at 0.9181, down 0.01% for the day.
USD/CHF daily chart
On the daily chart, after testing 5-month highs at 0.9368 on September, 30, the pair has been under downward pressure.The pair dropped below the critical 0.9275 support area. Further, the spot trades the 50-day Simple Moving Average (SMA) at 0.9217.
If the price breaks below the intraday low then it would test the 0.9155 horizontal support level. A daily close below the crucial 0.9150 mark could drag the spot toward the September, 3 low at 0.9115. Next, the bears will keep their eyes on the low of August 30 at 0.9101.
Alternatively, the Moving Average Convergence Divergence (MACD) trades below the midline. Any uptick in the MACD could reverse the prevailing trend with the first upside target at the 50-day SMA at 0.9218. A daily close above the 50-day SMA would see a high of October, 20 at 0.9252, followed by the 0.9275 horizontal resistance level.
USD/CHF additional levels
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