USD/CHF Price Forecast: Bulls set to probe 0.9400 as they eye 2021 yearly high

The USD/CHF begins the week on the right foot up 0.12%.
The Swiss franc was unable to capitalize on soft US dollar demand.
USD/CHF Price Forecast: Neutral, but a daily close above 0.9373, would expose 0.9400 and 2021 yearly high around 0.9472.

Christian Borjon Valencia FXStreet

The USD/CHF rallies and threatens November 24, 2021, daily high at 0.9373, amid a risk-off market mood. Broad safe-haven keeps the greenback buoyant, despite the fall of the US Dollar index, which is down 0.34%. At the time of writing, the USD/CHF is trading at 0.9358.

Overnight, the USD/CHF began around the day’s lows, near 0.9330s, though weak demand for the US dollar pushed the pair near the 0.9360 area, where it currently stands. Worth noting that the 50-simple moving average (SMA) in the 1-hour chart, around 0.9320, acted as solid support, so in the case of aiming down, that would be a crucial demand level to overcome.

USD/CHF Price Forecast: Technical outlook

The USD/CHF bias is still neutral, slightly tilted upwards. To further cement the “neutral-upwards,” the pair need a daily close above 0.9373. IF that scenario plays out, the USD/CHF first resistance would be 0.9400. Once breached, the next resistance would be April 2021 swing high at 0.9472, followed by the 0.9500 mark, and June 30 cycle high at 0.9533.

USD/CHF

Overview
Today last price	0.9358
Today Daily Change	0.0011
Today Daily Change %	0.12
Today daily open	0.9348

Trends
Daily SMA20	0.923
Daily SMA50	0.9215
Daily SMA100	0.9211
Daily SMA200	0.9195

Levels
Previous Daily High	0.935
Previous Daily Low	0.9291
Previous Weekly High	0.935
Previous Weekly Low	0.9166
Previous Monthly High	0.9297
Previous Monthly Low	0.915
Daily Fibonacci 38.2%	0.9327
Daily Fibonacci 61.8%	0.9313
Daily Pivot Point S1	0.931
Daily Pivot Point S2	0.9271
Daily Pivot Point S3	0.925
Daily Pivot Point R1	0.9369
Daily Pivot Point R2	0.9389
Daily Pivot Point R3	0.9428

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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