USD/CHF Price Analysis: Refreshes five-month high on the way to 0.9320-25

USD/CHF edges higher around multi-day top after crossing July’s peak.
Sustained trading above 0.9275 becomes necessary for bulls to keep reins.
Two-month-old previous resistance challenges pullback moves, horizontal area comprising multiple tops since March lures bulls.

Anil Panchal FXStreet

USD/CHF grinds to the north after refreshing the highest levels since April around 0.9275-80 during early Friday.

The Swiss currency (CHF) pair crossed an upward sloping trend line from July 20 the previous day to provide a daily closing beyond July’s high. The bullish signals also gain support from firmer RSI conditions, not overbought.

However, the USD/CHF buyers seem to look for a sustained push beyond 0.9280 before challenging the 0.9300 threshold.

Also on their radar is the horizontal hurdle from March around 0.9320-25, a break of which will aim for the yearly peak, currently around 0.9470.

Alternatively, pullback moves may retest the resistance-turned-support line near 0.9255 but the pair’s further weakness will be challenged by an August high around 0.9240.

Additionally, multiple stops around the 0.9200 round figure and 200-day EMA near 0.9150 will also challenge the USD/CHF bears on their return.

USD/CHF: Daily chart

Trend: Further upside expected

Additional important levels

Overview
Today last price	0.9277
Today Daily Change	0.0001
Today Daily Change %	0.01%
Today daily open	0.9276

Trends
Daily SMA20	0.9171
Daily SMA50	0.9159
Daily SMA100	0.9118
Daily SMA200	0.909

Levels
Previous Daily High	0.9278
Previous Daily Low	0.9193
Previous Weekly High	0.9235
Previous Weekly Low	0.9127
Previous Monthly High	0.9242
Previous Monthly Low	0.9019
Daily Fibonacci 38.2%	0.9246
Daily Fibonacci 61.8%	0.9226
Daily Pivot Point S1	0.922
Daily Pivot Point S2	0.9164
Daily Pivot Point S3	0.9135
Daily Pivot Point R1	0.9305
Daily Pivot Point R2	0.9334
Daily Pivot Point R3	0.939

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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