USD/CHF Gains Strength
USD/CHF is rising and might aim a move toward the 0.9015 resistance.
Important Takeaways for USD/CHF Analysis Today
· USD/CHF is gaining pace above the 0.8965 resistance zone.
· There is a key bearish trend line forming with resistance near 0.8980 on the hourly chart at FXOpen.
USD/CHF Technical Analysis
On the hourly chart of USD/CHF at FXOpen, the pair started a decent increase from the 0.8930 support. The US Dollar gained climbed above the 0.8950 resistance zone against the Swiss Franc.
The pair cleared the 50% Fib retracement level of the downward move from the 0.9004 swing high to the 0.8945 swing low. It is now trading above the 0.8965 level and the 50-hour simple moving average.
On the upside, the pair is now facing resistance near a key bearish trend line at 0.8980. It is close to the 61.8% Fib retracement level of the downward move from the 0.9004 swing high to the 0.8945 swing low. The next major resistance is near the 0.9005 level.
If there is a clear break above the 0.9005 resistance zone and the RSI climbs above 70, the pair could start another increase. In the stated case, it could test 0.9050.
On the downside, immediate support on the USD/CHF chart is near the 50-hour simple moving average at 0.8965. The first major support is near 0.8938. The next major support is near the 0.8930 level. Any more losses may possibly open the doors for a move toward the 0.8900 level or even 0.8880 in the near term.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Important Takeaways for USD/CHF Analysis Today
· USD/CHF is gaining pace above the 0.8965 resistance zone.
· There is a key bearish trend line forming with resistance near 0.8980 on the hourly chart at FXOpen.
USD/CHF Technical Analysis
On the hourly chart of USD/CHF at FXOpen, the pair started a decent increase from the 0.8930 support. The US Dollar gained climbed above the 0.8950 resistance zone against the Swiss Franc.
The pair cleared the 50% Fib retracement level of the downward move from the 0.9004 swing high to the 0.8945 swing low. It is now trading above the 0.8965 level and the 50-hour simple moving average.
On the upside, the pair is now facing resistance near a key bearish trend line at 0.8980. It is close to the 61.8% Fib retracement level of the downward move from the 0.9004 swing high to the 0.8945 swing low. The next major resistance is near the 0.9005 level.
If there is a clear break above the 0.9005 resistance zone and the RSI climbs above 70, the pair could start another increase. In the stated case, it could test 0.9050.
On the downside, immediate support on the USD/CHF chart is near the 50-hour simple moving average at 0.8965. The first major support is near 0.8938. The next major support is near the 0.8930 level. Any more losses may possibly open the doors for a move toward the 0.8900 level or even 0.8880 in the near term.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
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