USD/CHF Price Analysis: Bulls reclaim 0.9200 but face resistance at the 100-DMA

Positive risk sentiment weighs on the Swiss franc, boosting the greenback.
The US Dollar advances some 0.27% ahead of the release of the Fed monetary policy statement.
USD/CHF is upward biased but faces strong resistance at the 100-DMA

Christian Borjon Valencia FXStreet

The USD/CHF surges in the North American session reclaim the 0.9200 figure ahead of the FOMC monetary policy decision. At press time, the USD/CHF is trading at 0.9207.

Risk sentiment is positive, portrayed by European and US equities trading in the green, despite Ukraine and Russian tensions not easing. However, the expectations of a hawkish hold of the Federal Reserve keep USD bulls in charge of the pair.

USD/CHF Price Forecast: Technical outlook

In the Asian session, the USD/CHF remained subdued in a narrow range of 10-pips range, within 0.9170-80. However, as European traders got to their desks, USD bulls took control of the pair, propelling an upward move that reclaimed the 0.9200 figure.

From a technical perspective, the USD/CHF is neutral-upward biased. At press time, the pair faces strong resistance at the 100-day moving average (DMA) at 0.9211. A breach of that level would expose the January 11 daily high at 0.9278, followed by the confluence of a downslope trendline and December 15, 2021, around 0.9294-0.9305.

On the flip side, the USD/CHF first support would be 0.9200. If broken, the next support would be the 200-DMA at 0.9160, adding further downward pressure on the pair, sending it towards November 2, 2021, a daily low at 0.9085.

USD/CHF

Overview
Today last price	0.9206
Today Daily Change	0.0025
Today Daily Change %	0.27
Today daily open	0.9181

Trends
Daily SMA20	0.9167
Daily SMA50	0.9208
Daily SMA100	0.9215
Daily SMA200	0.9164

Levels
Previous Daily High	0.9204
Previous Daily Low	0.9133
Previous Weekly High	0.9181
Previous Weekly Low	0.9108
Previous Monthly High	0.9295
Previous Monthly Low	0.9102
Daily Fibonacci 38.2%	0.9177
Daily Fibonacci 61.8%	0.916
Daily Pivot Point S1	0.9141
Daily Pivot Point S2	0.9102
Daily Pivot Point S3	0.907
Daily Pivot Point R1	0.9212
Daily Pivot Point R2	0.9243
Daily Pivot Point R3	0.9283

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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