USD/CHF Price Analysis: Well bid above 200-HMA despite overbought RSI


  • USD/CHF refreshes the weekly high while extending recovery moves from 0.9064.
  • Key Fibonacci retracement levels are on the bulls’ radars.
  • A one-week-old horizontal line around 0.9110 adds to the downside support.

USD/CHF rises to 0.9118, intraday high 0.9122, during the early Thursday’s trading. The Swiss major recently gained bids after breaking 200-HMA. Other than the important HMA level, the quote also crossed the short-term horizontal resistance line while extending the post-Fed run-up.

In doing so, the quote ignores overbought RSI conditions and head towards 50% and 61.8% Fibonacci retracement level of September 08-10 downside, respectively near 0.9125 and 0.9145.

Though, the September 09 low of 0.9156 and 0.9190 may offer intermediate halts to the USD/CHF rally towards the monthly high 0.9200.

Meanwhile, a downside break 200-HMA, at .9114 now, will have to slip beneath the 0.9110 horizontal support to recall the 0.9100 threshold on the chart.

During the pair’s further weakness past-0.9100, multiple supports between 0.9055 and 0.9048 can entertain the sellers.

USD/CHF hourly chart

Trend: Further upside expected

Additional important levels

Overview
Today last price 0.9119
Today Daily Change 25 pips
Today Daily Change % 0.27%
Today daily open 0.9094
 
Trends
Daily SMA20 0.9099
Daily SMA50 0.9172
Daily SMA100 0.9378
Daily SMA200 0.9539
 
Levels
Previous Daily High 0.9111
Previous Daily Low 0.9055
Previous Weekly High 0.92
Previous Weekly Low 0.9049
Previous Monthly High 0.9242
Previous Monthly Low 0.8999
Daily Fibonacci 38.2% 0.9089
Daily Fibonacci 61.8% 0.9076
Daily Pivot Point S1 0.9063
Daily Pivot Point S2 0.9031
Daily Pivot Point S3 0.9007
Daily Pivot Point R1 0.9118
Daily Pivot Point R2 0.9143
Daily Pivot Point R3 0.9174

 

 

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