• The USD/CHF edges higher but remains trapped between the 0.9240-80 range.
  • A positive market mood boosts the prospects of the greenback.
  • USD/CHF Price Forecast: Range-bound within the 0.9200-0.9300 range.

The USD/CHF grinds higher but fails to break above Friday’s peak at 0.9279 as the pair probes an eleven-month-old downslope trendline. At press time, the USD/CHF is trading at 0.9266 during the North American session.

Of late, an improved market sentiment, as portrayed by European and US equities, lifted the USD/CHF pair. The USD/CHF was about to break below the 50-hour simple moving average (SMA), but a positive tone in the markets, alongside renewed demand for the greenback, lifted the pair back up. Nevertheless, it is not outside the woods unless the USD/CHF reclaims the 0.9280 area.

USD/CHF Price Forecast: Technical outlook

The USD/CHF bias is neutral-upwards. Its daily chart depicts a subsequent series of higher highs/lows since the beginning of 2022. March 31 dip towards the 200-day moving average (DMA) at 0.9209 was rejected, forming a “spinning top” candlestick, meaning failure to commit between buyers/sellers.

Upwards, the USD/CHF first resistance would be 0.9280. Once cleared, a test of February 10 high at 0.9296 is on the cards, immediately followed by 0.9300. A decisive break would open the door toward January 31 daily high at 0.9343.

On the downside, the USD/CHF first support would be the 50-DMA at 0.9258, followed by April 1 daily low at 0.9215, and then the 200-DMA at 0.9209.

USD/CHF

Overview
Today last price 0.9266
Today Daily Change 0.0007
Today Daily Change % 0.08
Today daily open 0.9257
 
Trends
Daily SMA20 0.9314
Daily SMA50 0.926
Daily SMA100 0.9236
Daily SMA200 0.9213
 
Levels
Previous Daily High 0.928
Previous Daily Low 0.9221
Previous Weekly High 0.9382
Previous Weekly Low 0.9195
Previous Monthly High 0.946
Previous Monthly Low 0.915
Daily Fibonacci 38.2% 0.9257
Daily Fibonacci 61.8% 0.9243
Daily Pivot Point S1 0.9225
Daily Pivot Point S2 0.9193
Daily Pivot Point S3 0.9166
Daily Pivot Point R1 0.9284
Daily Pivot Point R2 0.9312
Daily Pivot Point R3 0.9343

 

 

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