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USD/CHF Price Analysis: Rebounds from 100-SMA to pierce 0.9200

  • USD/CHF reverses Friday’s pullback from 13-day top, refreshes intraday high.
  • Firmer Momentum line, sustained bounce off the key moving average favor buyers.
  • Monthly resistance line appears the key for short-term, ascending trend line from December 31 adds to the downside filters.

USD/CHF takes the bids to renew intraday peak to 0.9207 during early Monday morning in Europe.

The Swiss currency (CHF) pair marked the heaviest daily losses since December 22 before bouncing off the 100-SMA. The corrective pullback gains support from a firmer Momentum line to direct the pair buyers towards the monthly resistance line, around 0.9230.

During the quote’s sustained run-up beyond 0.9230, the 61.8% Fibonacci retracement (Fibo.) of November-December downside, around 0.9270, will be crucial to watch for the USD/CHF pair’s further upside.

Meanwhile, a downside break of the 100-SMA, around 0.9185 by the press time, isn’t a green signal for USD/CHF sellers as a one-week-old support line, near 0.9178, will test the south-run towards December’s bottom surrounding 0.9100.

Overall, USD/CHF keeps the bullish consolidation to pare losses marked since late November. However, buyers will have a bumpy road ahead.

USD/CHF: Four-hour chart

Trend: Further upside expected

Additional important levels

Overview
Today last price0.9207
Today Daily Change0.0024
Today Daily Change %0.26%
Today daily open0.9183
 
Trends
Daily SMA200.9193
Daily SMA500.9209
Daily SMA1000.9213
Daily SMA2000.9168
 
Levels
Previous Daily High0.9232
Previous Daily Low0.9182
Previous Weekly High0.9232
Previous Weekly Low0.9113
Previous Monthly High0.9295
Previous Monthly Low0.9102
Daily Fibonacci 38.2%0.9201
Daily Fibonacci 61.8%0.9213
Daily Pivot Point S10.9166
Daily Pivot Point S20.915
Daily Pivot Point S30.9117
Daily Pivot Point R10.9215
Daily Pivot Point R20.9248
Daily Pivot Point R30.9265

Author

Anil Panchal

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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