USD/CHF Price Analysis: Consolidates the biggest daily gains since June below 0.9300

USD/CHF pares recent gains around monthly peak, off intraday low at the latest.
Clear break of 21-DMA, previous resistance from November favor buyers.
Five-month-old support line adds to the downside filters.

Anil Panchal FXStreet

USD/CHF lick the intraday wounds while picking up bids from the daily low to 0.9265 heading into Tuesday’s European session.

Even so, the Swiss currency (CHF) pair drops 0.08% on a day as bulls take a breather following the heaviest daily jump since June.

That said, the previous day’s upside break of the 21-DMA and descending trend line from November 24 joins bullish MACD signals to keep buyers hopeful to aim for the mid-December peak surrounding 0.9300.

Though, any further upside will need to cross the 0.9330-35 area before challenging the last monthly peak of 0.9373.

Meanwhile, pullback moves remain elusive until the quote stay beyond the resistance-turned-support convergence around 0.9200.

Even if the USD/CHF prices drop below 0.9200, an ascending support line from August, close to 0.9140, will challenge the pair bears.

USD/CHF: Daily chart

Trend: Further upside expected

Additional important levels

Overview
Today last price	0.9264
Today Daily Change	-0.0009
Today Daily Change %	-0.10%
Today daily open	0.9273

Trends
Daily SMA20	0.9195
Daily SMA50	0.9212
Daily SMA100	0.9215
Daily SMA200	0.9168

Levels
Previous Daily High	0.9275
Previous Daily Low	0.9186
Previous Weekly High	0.9232
Previous Weekly Low	0.9113
Previous Monthly High	0.9295
Previous Monthly Low	0.9102
Daily Fibonacci 38.2%	0.9241
Daily Fibonacci 61.8%	0.922
Daily Pivot Point S1	0.9214
Daily Pivot Point S2	0.9156
Daily Pivot Point S3	0.9125
Daily Pivot Point R1	0.9303
Daily Pivot Point R2	0.9334
Daily Pivot Point R3	0.9392

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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