USD/CHF Price Analysis: Doji on 4H keeps buyers hopeful above monthly support line

USD/CHF consolidates the previous day’s fall from the weekly high.
MACD is still bullish, though mildly, while trading past-13-day-old rising trend line.
200-bar EMA offers strong resistance ahead of the monthly top.

Anil Panchal FXStreet

USD/CHF takes rounds to 0.9085 while heading into the European open on Friday. The Swiss major recently flashed a bullish Doji on the four hour (4H) chart while keeping its sustained trading beyond an ascending trend line from September 01.

Also favoring the buyers targeting further recovery could be the bullish MACD.

Hence, the 0.9100 threshold is back on the traders’ radar ahead of 0.9120 numbers to the north.

Though, 200-bar EMA near 0.9132 can question the bulls afterward, if not then the monthly high of 0.9200 will be in the spotlight.

On the contrary, a downside break of the immediate support line near 0.9065 may take rest near 0.9050/48 before challenging the month-start bottom around the 0.9000 round-figures.

USD/CHF four-hour chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	0.9085
Today Daily Change	2 pips
Today Daily Change %	0.02%
Today daily open	0.9083

Trends
Daily SMA20	0.91
Daily SMA50	0.9166
Daily SMA100	0.9373
Daily SMA200	0.9535

Levels
Previous Daily High	0.914
Previous Daily Low	0.9081
Previous Weekly High	0.92
Previous Weekly Low	0.9049
Previous Monthly High	0.9242
Previous Monthly Low	0.8999
Daily Fibonacci 38.2%	0.9103
Daily Fibonacci 61.8%	0.9117
Daily Pivot Point S1	0.9063
Daily Pivot Point S2	0.9042
Daily Pivot Point S3	0.9004
Daily Pivot Point R1	0.9122
Daily Pivot Point R2	0.916
Daily Pivot Point R3	0.9181

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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