|

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

   •  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 price1.0112
Today Daily Change0.0027
Today Daily Change %0.27
Today daily open1.0085
 
Trends
Daily SMA201.0155
Daily SMA501.007
Daily SMA1001.0017
Daily SMA2000.9952
Levels
Previous Daily High1.0122
Previous Daily Low1.008
Previous Weekly High1.0123
Previous Weekly Low1.005
Previous Monthly High1.0238
Previous Monthly Low0.9932
Daily Fibonacci 38.2%1.0096
Daily Fibonacci 61.8%1.0106
Daily Pivot Point S11.007
Daily Pivot Point S21.0054
Daily Pivot Point S31.0028
Daily Pivot Point R11.0112
Daily Pivot Point R21.0138
Daily Pivot Point R31.0154

Author

Haresh Menghani

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

More from Haresh Menghani
Share:

Editor's Picks

EUR/USD gains traction to near 1.1800 as tariff uncertainty weighs on US Dollar

The EUR/USD pair holds positive ground around 1.1795 during the early Asian session on Tuesday. The US Dollar weakens against the Euro amid US tariff uncertainty. The release of the US January Producer Price Index report will be in the spotlight later on Friday. 

GBP/USD treads water near 1.3500 as BoE-Fed divergence debate stalls

GBP/USD spent Monday spinning in place as market participants await a fresh catalyst to break the pair out of its recent range. The BoE's February hold came with a surprisingly dovish 5-4 split, and UK Consumer Price Index data last week showed inflation easing to 3.0%, reinforcing the case for earlier rate cuts, with most economists now looking to April or March for the next move. 

Gold falls below $5,200 amid pullback from monthly highs

Gold price is back under the $5,200 level in the Asian session on Tuesday, pulling back from the highest level in four weeks reached at $5,250 earlier on. The Gold price upsurge was fuelled by heightened geopolitical tensions and global trade uncertainty following US tariff decisions. However, an improvement in risk sentiment and a fresh US Dollar upswing trigger a corrective decline in the yellow metal. 

Solana DeFi platform Step Finance to close operations following treasury hack

The Solana based decentralized finance platform Step Finance announced it will end all operations effective immediately following a breach that drained its treasury.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

XRP recovers slightly as bearish sentiment dominates crypto market

Ripple is rising above $1.40 at the time of writing on Monday amid fresh tariff-triggered headwinds in the broader cryptocurrency market. The sell-off to $1.33, the token’s intraday low, can be attributed to macroeconomic uncertainty, geopolitical tensions and risk-averse sentiment among other factors.