- USD/CHF seesaws around key SMA hurdle, recovers from intraday low.
- Sustained trading beyond 200-SMA, bullish MACD signal further advances.
- Monthly resistance line adds to the upside filters.
USD/CHF holds onto the bounce off intraday low near 0.9193, reversing early Asian losses, amid the initial Monday’s trading. In doing so, the major currency pair keeps bounce off 200-SMA while attacking the 100-SMA resistance.
In addition to the successful up-move past 200-SMA, bullish MACD also favors the pair buyers to pass the 0.9200 nearby challenge.
However, any further north-run will need a clear break of a downward sloping trend line from July 02, near 0.9250, to refresh the monthly high of 0.9274.
Meanwhile, pullback moves may take a breather around 200-SMA level of 0.9130, a break of which will direct USD/CHF sellers to battle the monthly low near 0.9115.
In a case where USD/CHF refreshes monthly bottom, the 0.9100 threshold will be the key support to watch before eyeing the mid-June tops surrounding the 0.9000 psychological magnet.
To sum up, USD/CHF bulls keep the reigns ahead of a bumpy road to the north.
USD/CHF: Four-hour chart
Trend: Further recovery expected
Additional important levels
|Today last price||0.9194|
|Today Daily Change||-0.0002|
|Today Daily Change %||-0.02%|
|Today daily open||0.9196|
|Previous Daily High||0.9204|
|Previous Daily Low||0.9173|
|Previous Weekly High||0.9204|
|Previous Weekly Low||0.9118|
|Previous Monthly High||0.9262|
|Previous Monthly Low||0.8926|
|Daily Fibonacci 38.2%||0.9192|
|Daily Fibonacci 61.8%||0.9185|
|Daily Pivot Point S1||0.9178|
|Daily Pivot Point S2||0.916|
|Daily Pivot Point S3||0.9147|
|Daily Pivot Point R1||0.9209|
|Daily Pivot Point R2||0.9222|
|Daily Pivot Point R3||0.924|
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