USD/CHF Price Analysis: Consolidates above 0.9100 near YTD highs

USD/CHF climbs 0.12% amid global risk aversion, boosting demand for the US Dollar.
Breaking past the November 1, 2023, high of 0.9112 suggests potential for more gains, targeting the 0.9200 resistance.
A fallback below 0.9100 could prompt a test of the major support trendline around 0.9040.

Christian Borjon Valencia FXStreet

The US Dollar posts minimal gains versus the Swiss Franc in the mid-North American session and gains 0.12%, trading at 0.9127 at the time of writing. Risk aversion, higher US Treasury yields, and solid US Retail Sales data boost the Greenback.

USD/CHF Price Analysis: Technical outlook

The pair remains upward biased after cracking the last cycle high of 0.9112 on November 1, 2023, which could pave the way for further upside. The USD/CHF peaked at around 0.9151, which, once surpassed, will expose the 0.9200 mark. A breach of the latter, and the pair could rally towards October 3, 2023, a high of 0.9245, with the next key resistance level seen at 0.9300.

On the other hand, if USD/CHF drops below 0.9100, that could open the door to challenge a three-and-a-half-month-old support trendline that passes around 0.9040. A further downside is seen at 0.9000.

USD/CHF Price Action – Daily Chart

USD/CHF

Overview
Today last price	0.9132
Today Daily Change	0.0016
Today Daily Change %	0.18
Today daily open	0.9116

Trends
Daily SMA20	0.9029
Daily SMA50	0.8893
Daily SMA100	0.8757
Daily SMA200	0.8825

Levels
Previous Daily High	0.9152
Previous Daily Low	0.9114
Previous Weekly High	0.9148
Previous Weekly Low	0.9012
Previous Monthly High	0.9072
Previous Monthly Low	0.873
Daily Fibonacci 38.2%	0.9129
Daily Fibonacci 61.8%	0.9138
Daily Pivot Point S1	0.9103
Daily Pivot Point S2	0.9089
Daily Pivot Point S3	0.9065
Daily Pivot Point R1	0.9141
Daily Pivot Point R2	0.9166
Daily Pivot Point R3	0.9179

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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