USD/CHF Price Analysis: Buyers regain control above 100-day SMA
|- USD/CHF extends recovery moves from 0.9645, nears one-week high.
- Monthly resistance line, 200-day SMA question buyers.
- A three-week-old rising support line becomes the key during a fresh downside.
While extending its run-up past-100-day SMA, USD/CHF rises to 0.9720, up 0.08% on a day, during the early Monday.
Considering the pair’s sustained trading beyond key SMA, the pair is likely to again confront the monthly resistance line, at 0.9750 now, during the further upside.
However, the quote’s rise beyond 0.9750 needs validation from 200-day SMA, currently at 0.9785, for further upside.
Alternatively, a daily closing below 100-day SMA level of 0.9687 will pull the pair back to an ascending trend line from May 01, at 0.9650 now.
If at all the bears manage to keep the reins past-0.9650, the monthly lows near 0.9590/85 could be on their radars.
USD/CHF daily 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.