USD/CHF Price Analysis: Pares recent losses, stays on bear’s radar unless crossing 0.9160
|- USD/CHF picks up bids to refresh intraday high, extend previous week’s rebound from 22-month low.
- Bullish MACD signals allow USD/CHF to consolidate recent losses but March’s low guards immediate upside.
- Multiple resistance lines, 100-SMA stand tall to challenge USD/CHF bulls.
- Sellers need validation from 0.9035 to aim for fresh multi-month low.
USD/CHF renews its intraday high near 0.9065 during early Easter Monday in Europe. In doing so, the Swiss Franc (CHF) pair extends the previous day’s recovery from a 22-month low while approaching a one-month-old support-turned-resistance surrounding 0.9075.
It’s worth noting that the bullish MACD signals join the corrective bounce off the multi-day low to lure USD/CHF buyers as they approach the previous support near 0.9075.
Even if the quote manages to stay firmer past 0.9075, downward-sloping resistance lines from March 26 and 15, respectively near 0.9095 and 0.9145, can check the USD/CHF buyers.
Even so, the Swiss currency pair buyers need to portray a successful upside break of the 100-bar Simple Moving Average (SMA), around 0.9160, to please the USD/CHF buyers.
Following that, 0.9225 and a late March swing high of around 0.9345 will be in focus.
On the flip side, multiple lows around 0.9035-30 can test the USD/CHF bears before recalling them to the driver’s seat. However, the 0.9000 psychological magnet may challenge the sellers afterward.
In a case where USD/CHF remains bearish past 0.9000, June 2021 low near 0.8925 may lure the sellers.
USD/CHF: Four-hour chart
Trend: Limited recovery expected
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