- USD/CHF is performing quite well while extending gains for the fourth straight session.
- Pair looks for additional gains if price decisively breaks 0.9260.
- Momentum oscillator holds onto positive territory favoring the upside momentum.
USD/CHF extends the previous session’s gains on Thursday in the European session. The pair opened higher and touched the intraday high of 0.9263.
At the time of writing, USD/CHF is trading at 0.9260, up 0.11% for the day.
USD/CHF daily chart
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On the daily chart, the USD/CHF pair has risen sharply from the low of 0.8977 made on June 16, and after some consolidation, it again started to move north.
If the pair sustains above 0.9260, it will allow bulls to test April 19 high at 0.9281.
The Moving Average Convergence Divergence (MACD) indicator trades comfortably above the midline. The reading suggests that there is room for further upside for the pair.
In doing so, USD/CHF bulls would recoup 0.9300, the key psychological mark, last visible in early April. The next upside target could be found at the 0.9320 horizontal resistance level.
Alternatively, if price reverses direction, in that case, the first target for USD/CHF bears could be the 0.9230 horizontal support level.
The selling pressure could be intensified toward the previous day’s low in the vicinity of the 0.9200 area, followed by the 0.9180 horizontal support level.
USD/CHF additional levels
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