USD/CHF Price Analysis: Bulls battle 100-HMA, weekly resistance line
- USD/CHF grinds higher around intraday top, keeps four-day trading range.
- Key HMA, short-term resistance line challenge buyers below 200-HMA.
- Firmer Momentum line favors corrective pullback, bulls need validation from 0.9275.
USD/CHF seesaws around day’s high of 0.9202, up 0.23% intraday during early Monday. In doing so, the Swiss currency (CHF) pair pokes 100-HMA while staying inside a short-term trading range established since the last four days.
The firmer Momentum line signals the quote’s run-up beyond the immediate hurdles, namely 100-HMA and a one-week-old resistance line, around 0.9200-9205.
However, 200-HMA and November 29 swing high, respectively near 0.9255 and 0.9275, which challenges the USD/CHF bulls past 0.9205.
On the flip side, pullback moves will aim for November 30 bottom near 0.9155 but any further weakness won’t hesitate to challenge the last month’s trough close to 0.9090.
It’s worth noting that the USD/CHF prices remain inside a gradual upward trajectory until the prices drop below 0.9090.
USD/CHF: Hourly chart
Trend: Further recovery expected
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.
