USD/CHF Aims Higher
USD/CHF is rising and might aim a clear move above the 0.9240 resistance zone.
Important Takeaways for USD/CHF
· USD/CHF started a fresh increase above the 0.9200 resistance zone.
· There is a major bearish trend line forming with resistance near 0.9240 on the hourly chart.
USD/CHF Technical Analysis
The US Dollar started a fresh increase from the 0.9140 support zone against the Swiss franc. The USD/CHF pair gained pace above the 0.9180 resistance to set the pace for a decent increase.
There was a clear move above the 0.9200 level the 0.9240 support and the 50 hourly simple moving average. The bulls even pushed the pair above the 50% Fib retracement level of the downward move from the 0.9260 swing high to 0.9137 low.
USD/CHF Hourly Chart
It is now trading near the 76.4% Fib retracement level of the downward move from the 0.9260 swing high to 0.9137 low. An immediate resistance is near the 0.9240 level.
There is also a major bearish trend line forming with resistance near 0.9240 on the hourly chart. The next major resistance is near the 0.9260 level. If there is a clear break above the 0.9260 resistance zone, the pair could start another increase. In the stated case, it could test 0.9300.
On the downside, an immediate support is near the 0.9210 level. The next major support is near the 0.9180 level. Any more losses may possibly open the doors for a move towards the 0.9150 level or even 0.9135 in the coming days.
Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Important Takeaways for USD/CHF
· USD/CHF started a fresh increase above the 0.9200 resistance zone.
· There is a major bearish trend line forming with resistance near 0.9240 on the hourly chart.
USD/CHF Technical Analysis
The US Dollar started a fresh increase from the 0.9140 support zone against the Swiss franc. The USD/CHF pair gained pace above the 0.9180 resistance to set the pace for a decent increase.
There was a clear move above the 0.9200 level the 0.9240 support and the 50 hourly simple moving average. The bulls even pushed the pair above the 50% Fib retracement level of the downward move from the 0.9260 swing high to 0.9137 low.
USD/CHF Hourly Chart
It is now trading near the 76.4% Fib retracement level of the downward move from the 0.9260 swing high to 0.9137 low. An immediate resistance is near the 0.9240 level.
There is also a major bearish trend line forming with resistance near 0.9240 on the hourly chart. The next major resistance is near the 0.9260 level. If there is a clear break above the 0.9260 resistance zone, the pair could start another increase. In the stated case, it could test 0.9300.
On the downside, an immediate support is near the 0.9210 level. The next major support is near the 0.9180 level. Any more losses may possibly open the doors for a move towards the 0.9150 level or even 0.9135 in the coming days.
Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.