USD/CHF technical analysis: Sustained move beyond 1.0120 hurdle to pave way for further intraday gains

Haresh Menghani FXStreet

• The USD/CHF pair has managed to hold its neck above an ascending trend-line support - extending from early-Jan. swing lows, albeit struggled to clear the 1.0120 static resistance.

• The fact that the pair remains above its important daily moving averages - 50, 100 & 200-day SMAs support prospects for a bullish breakout amid fading safe-haven demand.

Meanwhile, technical indicators on the daily chart haven't been able to gain positive traction, making it prudent for bullish traders to wait for a sustained move beyond the said hurdle before positioning for any further up-move towards 1.0155-60 supply zone.

On the flip side, the ascending trend-line - now coinciding with 50-day SMA, might now act as a key pivotal point for short-term traders, below which the pair is likely to head back towards challenging the parity mark en-route the next support near mid-0.9900s.

USD/CHF daily chart

USD/CHF

Overview
Today last price	1.0112
Today Daily Change	0.0027
Today Daily Change %	0.27
Today daily open	1.0085

Trends
Daily SMA20	1.0155
Daily SMA50	1.007
Daily SMA100	1.0017
Daily SMA200	0.9952

Levels
Previous Daily High	1.0122
Previous Daily Low	1.008
Previous Weekly High	1.0123
Previous Weekly Low	1.005
Previous Monthly High	1.0238
Previous Monthly Low	0.9932
Daily Fibonacci 38.2%	1.0096
Daily Fibonacci 61.8%	1.0106
Daily Pivot Point S1	1.007
Daily Pivot Point S2	1.0054
Daily Pivot Point S3	1.0028
Daily Pivot Point R1	1.0112
Daily Pivot Point R2	1.0138
Daily Pivot Point R3	1.0154

Author

Haresh Menghani

FXStreet

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

EUR/USD struggles below 1.1800 ahead of US data, Fedspeak

EUR/USD remains trapped in a tight range below 1.1800 in the European session on Tuesday. The pair struggles amid a modest US Dollar strength and an improvement in risk sentiment, even as US tariff uncertainty lingers. The focus now remains on the US data and Fedspeak.

GBP/USD stays defensive below 1.3500 as USD firms up

GBP/USD stays on the back foot below 1.3500 in the European trading hours on Tuesday. The pair declines as the US Dollar rebounds from losses recorded over the previous two sessions. Traders will focus on the US weekly ADP Employment Change and Consumer Confidence data due later in the day, along with speeches from Federal Reserve officials.

Gold holds pullback below $5,200 amid USD uptick

Gold holds moderate losses below $5,200 in European trading on Tuesday, though it lacks follow-through selling. Following the previous day's knee-jerk fall in reaction to US President Donald Trump's new global tariffs and the subsequent bounce, the US Dollar attracts fresh buyers ahead of mid-tier data and Fedspeak.

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.

AI-scare trade and tariff uncertainty takes hold

It was quite a day, with AI-disruption fears and tariff uncertainty triggering a risk-off session. By now, it's nearly impossible to have missed the Supreme Court's 6-3 decision that struck down US President Donald Trump's reciprocal tariffs last Friday.

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.