USD/CHF Price Analysis: Bulls await a sustained move beyond 0.9765-70 supply zone

USD/CHF trades with a positive bias for the fourth consecutive session.
The 0.9700 mark might now act as a strong base for bullish traders.

Haresh Menghani FXStreet

The USD/CHF pair edged higher for the fourth consecutive session on Thursday and is currently placed near one-week tops, levels just below mid-0.9700s.

Any subsequent positive move is likely to confront stiff resistance near the 0.9765-70 region (testing twice in January) and kept a lid on any further gains.

The mentioned barrier coincides with 38.2% Fibonacci level of the 1.0024-0.9613 downfall, which if cleared might be seen as a key trigger for bullish traders.

Moreover, technical indicators on hourly/daily charts have been gaining positive traction and support prospects for an extension of the ongoing momentum.

Hence, some follow-through buying has the potential to lift the pair further beyond the 0.9800 mark towards testing 50% Fibo. level resistance near the 0.9820 region.

Meanwhile, immediate support is pegged near 23.6% Fibo. level, around the 0.9700 round-figure mark, which if broken might negate prospects for any further recovery.

USD/CHF daily chart

USD/CHF

Overview
Today last price	0.9742
Today Daily Change	0.0006
Today Daily Change %	0.06
Today daily open	0.9736

Trends
Daily SMA20	0.9692
Daily SMA50	0.9763
Daily SMA100	0.9845
Daily SMA200	0.9878

Levels
Previous Daily High	0.9748
Previous Daily Low	0.9678
Previous Weekly High	0.9768
Previous Weekly Low	0.9629
Previous Monthly High	0.9768
Previous Monthly Low	0.9613
Daily Fibonacci 38.2%	0.9721
Daily Fibonacci 61.8%	0.9705
Daily Pivot Point S1	0.9693
Daily Pivot Point S2	0.9651
Daily Pivot Point S3	0.9623
Daily Pivot Point R1	0.9763
Daily Pivot Point R2	0.9791
Daily Pivot Point R3	0.9833

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

GBP/USD: Daily gains remain capped by 1.3650

GBP/USD leaves behind Monday’s pessimism and advances marginally on Tuesday. Cable’s humble gains, however, appear to have met quite a decent resistance in the 1.3650 zone for now, in a context of a slight selling pressure hovering around the Greenback.

EUR/USD struggles to regain pace; gyrates around 1.1670

EUR/USD clinches humble gains around 1.1670 following Tuesday’s close on Wall Street. Indeed, marginal losses in the US Dollar encourages spot to set aside two dauly pullbacks in a row and maintain the 1.1700 barrier on the cross-hairs for now. Moving forward, US inflation tracked by the PCE and another revision of Q2 GDP data should keep investors entertained on Wednesday.

Gold struggles near $4,650 ahead of US PCE inflation data

Gold struggles around $4,650 early Wednesday after the previous day's two-way swings as traders await the US PCE data for cues about the Fed's interest rate path. The outlook could drive the US Dollar and the non-yielding bullion. Meanwhile, renewed hopes for a US-Iran peace deal, weak Oil prices, sliding US bond yields and diminishing odds of an immediate tightening by the Fed undermine the USD, which could likely limit Gold's downside.

Bitcoin posts strongest weekly gain since November 2024 as market activity surges

Bitcoin (BTC) has posted its strongest one-week gain since the November 2024 US presidential election, climbing 23% over the past week as spot market activity and institutional demand returned sharply, according to a Tuesday report from K33. The rally pushed Bitcoin from around $63,000 to over $80,000 by late Monday.

America’s self‑inflicted trade wound

I’m conflicted about the trade war that the U.S. has started with Canada. Let’s be clear: any representation that Canada has been taking unfair advantage of the U.S. or that they have been treating us badly for years is a bogus characterization. In reality, the shoe is on the other foot. It’s the U.S. that has been behaving badly.

Canada hits US goods with tariffs; The rate market sees a problem

On September 8, Canada begins charging its own importers 15%, 25% and 50% on roughly 700 lines of American goods. The measure is billed as dollar for dollar, and on the arithmetic of covered trade it is. What it is not is a tax on the United States.