USD/CHF Price Analysis: Gains for the fifth day while battling 0.9200

USD/CHF rises to one-week high on the break of horizontal line comprising March low.
Bullish MACD adds strength to the breakout, 21-day SMA offers immediate resistance.
Sellers wait for fresh entries unless the pair drops below 0.9130.

Anil Panchal FXStreet

USD/CHF takes the bids to 0.9194, up 0.28% on a day, ahead of Wednesday’s European session. In doing so, the pair pierces a multi-month-old horizontal line amid bullish MACD.

21-day SMA level of 0.9220 appears on the buyers’ radar as nearby upside barrier before challenging the monthly top near 0.9245.

In a case where the bulls dominate past-0.9245, 0.9300 and July 09 low near 0.9360 could return to the charts.

On the downside, the pair’s declines below the resistance-turned-support, at 0.9180 highlights the return of 0.9130 and 0.9100 supports.

Though, the quote’s downside past-0.9100 will have to stop near 0.9050 before diverting the bears to 0.9000 psychological magnet.

USD/CHF daily chart

Trend: Further recovery expected

Additional important levels

Overview
Today last price	0.9192
Today Daily Change	24 pips
Today Daily Change %	0.26%
Today daily open	0.9168

Trends
Daily SMA20	0.9221
Daily SMA50	0.9376
Daily SMA100	0.9532
Daily SMA200	0.9646

Levels
Previous Daily High	0.9178
Previous Daily Low	0.9105
Previous Weekly High	0.9242
Previous Weekly Low	0.9051
Previous Monthly High	0.9494
Previous Monthly Low	0.9056
Daily Fibonacci 38.2%	0.915
Daily Fibonacci 61.8%	0.9133
Daily Pivot Point S1	0.9123
Daily Pivot Point S2	0.9078
Daily Pivot Point S3	0.905
Daily Pivot Point R1	0.9196
Daily Pivot Point R2	0.9223
Daily Pivot Point R3	0.9269

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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