USD/CHF Price Analysis: Buyers regain control above 100-day SMA

USD/CHF extends recovery moves from 0.9645, nears one-week high.
Monthly resistance line, 200-day SMA question buyers.
A three-week-old rising support line becomes the key during a fresh downside.

Anil Panchal FXStreet

While extending its run-up past-100-day SMA, USD/CHF rises to 0.9720, up 0.08% on a day, during the early Monday.

Considering the pair’s sustained trading beyond key SMA, the pair is likely to again confront the monthly resistance line, at 0.9750 now, during the further upside.

However, the quote’s rise beyond 0.9750 needs validation from 200-day SMA, currently at 0.9785, for further upside.

Alternatively, a daily closing below 100-day SMA level of 0.9687 will pull the pair back to an ascending trend line from May 01, at 0.9650 now.

If at all the bears manage to keep the reins past-0.9650, the monthly lows near 0.9590/85 could be on their radars.

USD/CHF daily chart

Trend: Further recovery expected

Additional important levels

Overview
Today last price	0.972
Today Daily Change	7 pips
Today Daily Change %	0.07%
Today daily open	0.9713

Trends
Daily SMA20	0.9708
Daily SMA50	0.97
Daily SMA100	0.9687
Daily SMA200	0.9786

Levels
Previous Daily High	0.9734
Previous Daily Low	0.9697
Previous Weekly High	0.9761
Previous Weekly Low	0.9638
Previous Monthly High	0.9803
Previous Monthly Low	0.9595
Daily Fibonacci 38.2%	0.972
Daily Fibonacci 61.8%	0.9711
Daily Pivot Point S1	0.9696
Daily Pivot Point S2	0.9678
Daily Pivot Point S3	0.966
Daily Pivot Point R1	0.9732
Daily Pivot Point R2	0.9751
Daily Pivot Point R3	0.9768

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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