USD/CHF Price Analysis: Buyers attack weekly resistance line around mid 0.9200s

USD/CHF takes the bids to refresh intraday high, extends Friday’s recovery moves.
Firmer RSI favor bulls to battles with short-term key hurdle.
Three-week-old rising trend line, 100-SMA add to the downside filters.

Anil Panchal FXStreet

USD/CHF renews intraday high to 0.9260, up 0.14% intraday as European traders brace for Monday’s task.

The Swiss currency (CHF) pair jostles with a downward sloping trend line from September 21 while printing a two-day uptrend.

Given the upbeat RSI conditions, not overbought, as well as the pair’s sustained trading beyond 100-SMA and a three-week-old rising trend line, USD/CHF is likely to extend the latest recovery beyond the 0.9260 immediate hurdle.

Following that, 0.9285 and 0.9310 may entertain the pair buyers before challenging them with a monthly high of 0.9332.

Alternatively, pullback moves may aim to retest the support line from early September, near 0.9230, a break of which will direct the USD/CHF sellers towards a 100-SMA level of 0.9218.

It should be noted, however, that the pair’s weakness past 100-SMA will target the area near the 0.9190 mark, including multiple levels marked since late August and 61.8% Fibonacci retracement of August 30 to September 20 upside.

USD/CHF: Four-hour chart

Trend: Further upside expected

Additional important levels

Overview
Today last price	0.926
Today Daily Change	0.0014
Today Daily Change %	0.15%
Today daily open	0.9246

Trends
Daily SMA20	0.9208
Daily SMA50	0.9171
Daily SMA100	0.9128
Daily SMA200	0.9102

Levels
Previous Daily High	0.9261
Previous Daily Low	0.9222
Previous Weekly High	0.9333
Previous Weekly Low	0.9216
Previous Monthly High	0.9242
Previous Monthly Low	0.9019
Daily Fibonacci 38.2%	0.9246
Daily Fibonacci 61.8%	0.9237
Daily Pivot Point S1	0.9226
Daily Pivot Point S2	0.9205
Daily Pivot Point S3	0.9187
Daily Pivot Point R1	0.9264
Daily Pivot Point R2	0.9282
Daily Pivot Point R3	0.9302

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.

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