USD/CHF Price Analysis: Bull's probe an 11-month-old trendline around 0.9282

The USD/CHF is gaining 0.65% during the week, ahead of the weekend.
Improved market mood spurred by some developments in Ukraine boosted the greenback.
USD/CHF Technical Outlook: Neutral biased, with the DMAs almost horizontal in the daily chart.

Christian Borjon Valencia FXStreet

The USD/CHF advances sharply in the day, amid an improved market sentiment, as Russian President Putin reportedly is ready to send a delegation to Minsk for talks with Ukraine. At the time of writing, the USD/CHF is trading at 0.9276, approaching an eleven-month-old down trendline.

On Friday, during the overnight session for North American traders, the USD/CHF fluctuated between 0.9230—0.9260, with an unclear bias. However, late in the European session, the pair rallied towards 0.9282, an upward move capped by the 11-month-old abovementioned trendline.

USD/CHF Price Forecast: Technical outlook

The USD/CHF bias is neutral, and the pair faces strong resistance at a downslope trendline. However, the daily moving averages (DMAs) below the spot price would advise the USD/CHF as upward biased, but the DMAs slope is almost horizontal.

Upwards, the USD/CHF first resistance would be 0.9282. Breach of the latter would expose February 18 daily high at 0.9296, followed by January 31 daily high at 0.9342.

On the flip side, the USD/CHF first support is 0.9200. Once cleared, the next demand zone would be February 23 daily low at 0.9150, followed by 0.9100.

USD/CHF

Overview
Today last price	0.9276
Today Daily Change	0.0025
Today Daily Change %	0.27
Today daily open	0.9251

Trends
Daily SMA20	0.9232
Daily SMA50	0.9203
Daily SMA100	0.9211
Daily SMA200	0.9181

Levels
Previous Daily High	0.9289
Previous Daily Low	0.9172
Previous Weekly High	0.9274
Previous Weekly Low	0.9188
Previous Monthly High	0.9343
Previous Monthly Low	0.9092
Daily Fibonacci 38.2%	0.9244
Daily Fibonacci 61.8%	0.9217
Daily Pivot Point S1	0.9186
Daily Pivot Point S2	0.9121
Daily Pivot Point S3	0.907
Daily Pivot Point R1	0.9303
Daily Pivot Point R2	0.9354
Daily Pivot Point R3	0.9419

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

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