USD/CHF Price Analysis: Further upside hinges on 0.9160 breakout

USD/CHF remains sidelined around intraday high, defends two-week-old resistance break.
Firmer Momentum line, sustained trading beyond 200-HMA favor buyers.
Fortnight-long descending resistance line guards immediate upside moves.

Anil Panchal FXStreet

USD/CHF grinds higher around 0.9155, up 0.09% intraday heading into Tuesday’s European session.

In doing so, the Swiss currency (CHF) pair holds onto the previous day’s upside break of a two-week-long resistance break, now support around 0.9150.

Also keeping USD/CHF buyers hopeful is the pair’s successful trading above the 200-HMA and firmer Momentum line.

Even so, a descending resistance line from January 12, around 0.9160, restricts the quote’s nearby advances.

Should USD/CHF buyers manage to cross the 0.9160 hurdle, an upside momentum towards Thursday’s peak near 0.9180 can’t be ruled out.

On the contrary, a downside break of 0.9150 will drag the quote back to the 200-HMA level of 0.9141 but any further declines won’t hesitate to recall the USD/CHF bears.

Following that, the 0.9100 threshold and the monthly low of 0.9092 will be in focus ahead of November 2021 trough surrounding 0.9088.

USD/CHF: Hourly chart

Trend: Further upside expected

Additional important levels

Overview
Today last price	0.9153
Today Daily Change	0.0009
Today Daily Change %	0.10%
Today daily open	0.9144

Trends
Daily SMA20	0.9167
Daily SMA50	0.9211
Daily SMA100	0.9215
Daily SMA200	0.9164

Levels
Previous Daily High	0.9159
Previous Daily Low	0.9109
Previous Weekly High	0.9181
Previous Weekly Low	0.9108
Previous Monthly High	0.9295
Previous Monthly Low	0.9102
Daily Fibonacci 38.2%	0.914
Daily Fibonacci 61.8%	0.9128
Daily Pivot Point S1	0.9116
Daily Pivot Point S2	0.9088
Daily Pivot Point S3	0.9067
Daily Pivot Point R1	0.9166
Daily Pivot Point R2	0.9187
Daily Pivot Point R3	0.9215

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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