USD/CHF Price Analysis: Bounces off monthly support to regain 0.9250

  • USD/CHF consolidates two-day losses, refreshes intraday high of late.
  • 11-week-old horizontal hurdle lures bulls, 0.9100 becomes a tough nut to crack for bears.

USD/CHF takes the bids to refresh daily top, around 0.9250, up 0.12% intraday, while snapping a two-day downtrend ahead of Wednesday’s European session.

In doing so, the Swiss currency pair rebounds from an ascending support line from September 03, around 0.9230 amid a firmer Momentum line.

The pair’s upside currently aims for July’s top near 0.9275 before challenging the monthly peak of 0.9332. Also, the 0.9300 threshold may offer an intermediate halt during the run-up.

Meanwhile, a downside break of 0.9230 may witness multiple supports around the 0.9200 round figure and the 0.9130 level.

However, a convergence of the 200-DMA and an ascending trend line from early June, close to 0.9100, will challenge the USD/CHF bears afterward.

To sum up, USD/CHF regains upside momentum but the bulls should stay cautious.

USD/CHF: Daily chart

Trend: Further recovery expected

Additional important levels

Today last price 0.9248
Today Daily Change 0.0012
Today Daily Change % 0.13%
Today daily open 0.9236
Daily SMA20 0.9192
Daily SMA50 0.9166
Daily SMA100 0.9122
Daily SMA200 0.9096
Previous Daily High 0.9284
Previous Daily Low 0.9225
Previous Weekly High 0.9325
Previous Weekly Low 0.9164
Previous Monthly High 0.9242
Previous Monthly Low 0.9019
Daily Fibonacci 38.2% 0.9248
Daily Fibonacci 61.8% 0.9261
Daily Pivot Point S1 0.9213
Daily Pivot Point S2 0.919
Daily Pivot Point S3 0.9155
Daily Pivot Point R1 0.9271
Daily Pivot Point R2 0.9307
Daily Pivot Point R3 0.933



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