USD/CHF Price Analysis: 200-SMA challenges rebound around 0.9150

USD/CHF edges higher during the two-day uptrend towards weekly high.
Downbeat momentum, key SMA hurdle challenges the further upside.
61.8% Fibonacci retracement offers strong support, bulls may aim for 0.9200 during further advances.

Anil Panchal FXStreet

USD/CHF remains on the front foot, recently easy around 0.9150 during Wednesday’s Asian session. The Swiss currency pair bounced off the 61.8% Fibonacci retracement (Fibo.) of August 04–11 upside the previous day to snap the earlier two-day downtrend.

The recovery moves, however, struggle to gain pace as the Momentum line portrays sluggish moves near the 200-SMA.

Hence, the rebound needs to overcome the key SMA hurdle of around 0.9160, also including 38.2% Fibonacci retracement, to convince the USD/CHF buyers. It should be noted that the weekly top surrounding 0.9170 adds to the upside filters.

Should the quote rises past 0.9170, August 11 lows near the 0.9200threshold and the monthly peak close to 0.9242 will be on the bull’s radar.

Meanwhile, pullback moves may recall the 0.9130 support levels on the chart before highlighting the 61.8% Fibo. for the USD/CHF bears, bear 0.9105. It’s worth noting that the 0.9100 threshold offers extra support to challenge the pair’s downside towards the monthly low near 0.9060.

USD/CHF: Four-hour chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	0.915
Today Daily Change	0.0025
Today Daily Change %	0.27%
Today daily open	0.9125

Trends
Daily SMA20	0.9143
Daily SMA50	0.9144
Daily SMA100	0.9134
Daily SMA200	0.9076

Levels
Previous Daily High	0.9168
Previous Daily Low	0.9109
Previous Weekly High	0.9242
Previous Weekly Low	0.9143
Previous Monthly High	0.9274
Previous Monthly Low	0.904
Daily Fibonacci 38.2%	0.9132
Daily Fibonacci 61.8%	0.9146
Daily Pivot Point S1	0.91
Daily Pivot Point S2	0.9075
Daily Pivot Point S3	0.9041
Daily Pivot Point R1	0.9159
Daily Pivot Point R2	0.9193
Daily Pivot Point R3	0.9218

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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