USD/CHF Price Analysis: To test the 200-DMA as sellers eye the 0.9000 mark

USD/CHF in a strong uptrend on the daily chart, targeting key resistance at 0.9000.
A break above 0.9000 could lead to a test of the 200-day Moving Average at 0.9041, followed by the May 31 high at 0.9147.
Sellers need to push the pair below this week’s low of 0.8893 to regain control and shift momentum.

Christian Borjon Valencia FXStreet

The US Dollar (USD) prolonged its gains versus the Swiss Franc (CHF) on Thursday, as the Greenback (USD) prints a six-month high, as inflation data during the last couple of days shows inflation remains elevated. Nevertheless, money market futures do not foresee a rate hike in September, but November remains open. Hence, the USD/CHF is trading at 0.8964 after hitting a daily low of 0.8914.

USD/CHF Price Analysis: Technical outlook

The daily chart depicts the pair as in a steady uptrend, with USD/CHF buyers eyeing the 0.9000 mark. A breach of the latter would expose the 200-day Moving Average (DMA) at 0.9041 before the major reaches the May 31 daily high at 0.9147. On the other hand, sellers must drag prices below the current week’s low of 0.8893 if they want to reclaim control.

The USD/CHF is set to test the 0.9000 mark in the short term, but buyers must first reclaim the R1 daily pivot at 0.8960. if that level is surpassed, the pair will aim toward the R2 pivot point at 0.8985 before claiming 0.9000. Conversely, the major would shift downwards if it drops below today’s daily low of 0.8914.

USD/CHF Price Action – Daily chart

USD/CHF

Overview
Today last price	0.8961
Today Daily Change	0.0024
Today Daily Change %	0.27
Today daily open	0.8937

Trends
Daily SMA20	0.8852
Daily SMA50	0.8774
Daily SMA100	0.888
Daily SMA200	0.9046

Levels
Previous Daily High	0.8952
Previous Daily Low	0.8907
Previous Weekly High	0.8945
Previous Weekly Low	0.8833
Previous Monthly High	0.8876
Previous Monthly Low	0.869
Daily Fibonacci 38.2%	0.8935
Daily Fibonacci 61.8%	0.8924
Daily Pivot Point S1	0.8912
Daily Pivot Point S2	0.8887
Daily Pivot Point S3	0.8867
Daily Pivot Point R1	0.8957
Daily Pivot Point R2	0.8977
Daily Pivot Point R3	0.9002

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

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