USD/CHF Price Analysis: Ready for a bumpy north-run, 0.9100 guards immediate upside


  • USD/CHF trims early Asian losses to revisit 0.9060-65 region.
  • Upbeat MACD, bullish chart patterns favor the buyers.
  • Upper line of the 10-week-old rising channel tests short-term bulls before immediate ascending channel and 200-day SMA.
  • Bears need to defy multiple channels, refresh monthly low to retake controls.

USD/CHF picks up bids around 0.9060 while heading into Friday’s European session. In doing so, the Swiss currency pair attacks the familiar region surrounding the intraday high amid bullish MACD.

A sustained upside clearance of the early-month top joins bullish MACD and two ascending trend channels to back the USD/CHF buyers.

However, the road to the north has many speed-breakers wherein the resistance line of the longer channel, at 0.9100 now, restricts the quote’s nearby rise.

Even if the USD/CHF bulls manage to cross 0.9100, life won’t be easy as the upper limit of the two-week-old ascending channel and 200-day SMA, respectively around 0.9115 and 0.9135 respectively, will challenge the further upside.

Alternatively, short-term sellers will seek a clear break of 0.9040, comprising the early month top, to challenge immediate channel’s support, currently around 0.8990. However, the USD/CHF bears won’t be serious until the quote drops below the multi-week-old rising channel’s lower line, at 0.8900 now. Also acting as a downside filter is the monthly low near 0.8870.

Overall, USD/CHF remains on the firm footing but the upside moves are likely to be capped.

USD/CHF daily chart

Trend: Gradual upside expected

Additional important levels

Overview
Today last price 0.9062
Today Daily Change -2 pips
Today Daily Change % -0.02%
Today daily open 0.9064
 
Trends
Daily SMA20 0.897
Daily SMA50 0.8908
Daily SMA100 0.8981
Daily SMA200 0.9139
 
Levels
Previous Daily High 0.9082
Previous Daily Low 0.9028
Previous Weekly High 0.8996
Previous Weekly Low 0.8871
Previous Monthly High 0.8926
Previous Monthly Low 0.8758
Daily Fibonacci 38.2% 0.9048
Daily Fibonacci 61.8% 0.9061
Daily Pivot Point S1 0.9034
Daily Pivot Point S2 0.9004
Daily Pivot Point S3 0.8981
Daily Pivot Point R1 0.9087
Daily Pivot Point R2 0.9111
Daily Pivot Point R3 0.9141

 

 

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