• USD/CHF bulls jostle with short-term key resistance line.
  • Bullish MACD signals, firmer RSI favor buyers to extend the bounce off four-month low.
  • Monthly resistance line, 200-SMA adds to the upside filters.

USD/CHF grinds higher around 0.9460 as buyers attack a seven-week-old previous support line during Tuesday’s Asian session.

In doing so, the Swiss currency (CHF) pair extends the previous week’s rebound from the lowest levels since mid-April. Also keeping the buyers hopeful is the RSI (14) line, as well as the bullish MACD signals.

That said, a clear upside break of the 0.9470 hurdle appears necessary for the USD/CHF bulls to approach a downward sloping resistance line from July, close to 0.9560 at the latest.

Following that, the 200-SMA hurdle near 0.9630 will be an important challenge for the pair’s further upside past 0.9560.

Alternatively, pullback moves may aim for the three-day-old support line, close to 0.9430, but remain unconvincing beyond the monthly low of 0.9370.

Even if the quote drops below 0.9370, January’s peak around 0.9345 may act as the last defense for USD/CHF bulls before giving control to the bears. In that case, March’s low of 0.9195 will be in focus.

Overall, USD/CHF pares recent losses but has miles to go before luring buyers.

USD/CHF: Four-hour chart

Trend: Further upside expected

Additional important levels

Overview
Today last price 0.9464
Today Daily Change -0.0001
Today Daily Change % -0.01%
Today daily open 0.9465
 
Trends
Daily SMA20 0.9565
Daily SMA50 0.9662
Daily SMA100 0.9634
Daily SMA200 0.9434
 
Levels
Previous Daily High 0.9471
Previous Daily Low 0.9409
Previous Weekly High 0.9635
Previous Weekly Low 0.9371
Previous Monthly High 0.9886
Previous Monthly Low 0.9502
Daily Fibonacci 38.2% 0.9448
Daily Fibonacci 61.8% 0.9433
Daily Pivot Point S1 0.9425
Daily Pivot Point S2 0.9386
Daily Pivot Point S3 0.9363
Daily Pivot Point R1 0.9488
Daily Pivot Point R2 0.9511
Daily Pivot Point R3 0.955

 

 

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