USD/CHF Technical Analysis: Set-up favors a move towards testing 1.0055-60 resistance zone

Haresh Menghani FXStreet

• On Friday, the pair once again managed to find decent support near 200-hour SMA and finally settled nearly unchanged for the day, gaining for the third consecutive week.

• The mentioned support coincides with the lower end of an ascending trend-channel - held since the beginning of this month, and should act as a key pivotal point for the pair's near-term trajectory.

• Meanwhile, oscillators on hourly/daily charts have again started gaining positive traction and add credence to the bullish set-up, supporting prospects for an extension of the recent positive trend.

• A sustained move beyond the 1.0030 horizontal zone will further reinforce the constructive outlook and might assist the pair to aim towards testing the channel resistance, near the 1.0055-60 region.

USD/CHF 1-hourly chart

USD/CHF

Overview
Today last price	1.0021
Today Daily Change	-0.0003
Today Daily Change %	-0.03
Today daily open	1.0024

Trends
Daily SMA20	0.9976
Daily SMA50	1.0009
Daily SMA100	0.9961
Daily SMA200	0.9926

Levels
Previous Daily High	1.0037
Previous Daily Low	0.9997
Previous Weekly High	1.0047
Previous Weekly Low	0.9977
Previous Monthly High	1.0125
Previous Monthly Low	0.9894
Daily Fibonacci 38.2%	1.0012
Daily Fibonacci 61.8%	1.0022
Daily Pivot Point S1	1.0002
Daily Pivot Point S2	0.9979
Daily Pivot Point S3	0.9962
Daily Pivot Point R1	1.0042
Daily Pivot Point R2	1.0059
Daily Pivot Point R3	1.0082

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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