USD/CHF Price Analysis: Responds to Friday’s bullish Doji with mild gains above 0.9400

USD/CHF follows Friday’s bullish candlestick formation, buyers catch a breather around intraday high off-late.
Sustained trading above short-term SMA, trend line suggests refreshing multi-day top.
Overbought RSI, downbeat Momentum challenge the pair’s further upside.

Anil Panchal FXStreet

USD/CHF holds upper ground while staying firm around 0.9430, up 0.09% intraday, during early Monday.

Friday’s bullish Doji takes clues from the pair’s successful trading above 10-day SMA and an ascending trend line from February 16 to favor the USD/CHF buyers targeting a fresh nine-month high above 0.9472.

However, overbought RSI conditions and sluggish momentum suggests limited upside of the pair past-0.9472, which in turn indicates the importance of late June 2020 tops near 0.9535-40.

Meanwhile, a 10-day SMA level of 0.9400 and a one-month-old horizontal area around 0.9375-70 can restrict USD/CHF pullback before highlighting a short-term rising support line, near 0.9358 by the press time, for sellers.

During the quote’s downside break below 0.9358, the 0.9300 and March 17 low close to 0.9215 will be the key levels to watch.

USD/CHF daily chart

Trend: Further expected

Additional important levels

Overview
Today last price	0.9431
Today Daily Change	9 pips
Today Daily Change %	0.10%
Today daily open	0.9422

Trends
Daily SMA20	0.933
Daily SMA50	0.9134
Daily SMA100	0.9029
Daily SMA200	0.9105

Levels
Previous Daily High	0.9434
Previous Daily Low	0.9405
Previous Weekly High	0.9473
Previous Weekly Low	0.937
Previous Monthly High	0.9459
Previous Monthly Low	0.9071
Daily Fibonacci 38.2%	0.9423
Daily Fibonacci 61.8%	0.9416
Daily Pivot Point S1	0.9407
Daily Pivot Point S2	0.9392
Daily Pivot Point S3	0.9378
Daily Pivot Point R1	0.9436
Daily Pivot Point R2	0.945
Daily Pivot Point R3	0.9465

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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