USD/CHF Price Analysis: Poised for further upside beyond 0.9200 on bullish cross

USD/CHF edges higher around five-week top, fades bounce off intraday low.
50-DMA cross over the 100-DMA, backed by bullish MACD, favor buyers.
Sustained break of descending trend line from April adds strength to the bullish bias.

Anil Panchal FXStreet

USD/CHF struggles to defend the 0.9200 threshold, indecisive around 0.9230 by the press time, during subdued trading hours heading into Friday’s European session.

Even so, the quote’s successful break of a 4.5-month-old resistance line, now support, joins an upside cross of the 50-DMA over the 100-DMA, not to forget bullish MACD, to keep the pair buyers hopeful.

During the quote’s upside moves, the latest highs surrounding 0.9245 and the previous month’s top near 0.9275 will precede early March’s top near 0.9375 to challenge run-up.

Though, a clear rise past 0.9375 enables the USD/CHF prices to aim for the yearly peak close to 0.9472.

Meanwhile, the resistance-turned-support line near 0.9180 restricts short-term downside ahead of the DMA confluence around 0.9140-35.

If at all USD/CHF bears remain dominant past 0.9140, the mid-July lows near 0.9115 and the monthly bottom of 0.9018 will be on their radars.

USD/CHF: Daily chart

Trend: Further upside expected

Additional important level

Overview
Today last price	0.9231
Today Daily Change	-0.0001
Today Daily Change %	-0.01%
Today daily open	0.9232

Trends
Daily SMA20	0.9147
Daily SMA50	0.9138
Daily SMA100	0.9139
Daily SMA200	0.9075

Levels
Previous Daily High	0.924
Previous Daily Low	0.9212
Previous Weekly High	0.9156
Previous Weekly Low	0.9019
Previous Monthly High	0.9274
Previous Monthly Low	0.904
Daily Fibonacci 38.2%	0.9229
Daily Fibonacci 61.8%	0.9222
Daily Pivot Point S1	0.9216
Daily Pivot Point S2	0.92
Daily Pivot Point S3	0.9188
Daily Pivot Point R1	0.9244
Daily Pivot Point R2	0.9256
Daily Pivot Point R3	0.9272

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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