Market Analysis: USD/CHF Targets Upside Break
Market Analysis: USD/CHF Targets Upside Break
USD/CHF is rising and might aim a move toward the 0.9155 resistance.
Important Takeaways for USD/CHF Analysis Today
USD/CHF Technical Analysis
On the hourly chart of USD/CHF at FXOpen, the pair declined heavily below the 0.9140 level before the bulls appeared. The US Dollar tested 0.9085 and recently started a fresh increase against the Swiss Franc.
The pair climbed above the 0.9110 resistance zone. There was a break above the 50% Fib retracement level of the downward move from the 0.9153 swing high to the 0.9086 low.
The bulls are now facing resistance near the 50-hour simple moving average and 0.9130. There is also a connecting bearish trend line forming with resistance at 0.9130 and the 61.8% Fib retracement level of the downward move from the 0.9153 swing high to the 0.9086 low. The next major resistance is at 0.9140.
The main resistance is now near 0.9155. If there is a clear break above the 0.9155 resistance zone and the RSI remains above 50, the pair could start another increase. In the stated case, it could test 0.9200.
If there is another decline, the pair might test the 0.9110 support. The first major support on the USD/CHF chart is near the 0.9085 zone. A downside break below 0.9085 might spark bearish moves. The next major support is near the 0.9040 pivot level. Any more losses may possibly open the doors for a move toward the 0.9000 level in the near term.
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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.
USD/CHF is rising and might aim a move toward the 0.9155 resistance.
Important Takeaways for USD/CHF Analysis Today
- USD/CHF is showing positive signs above the 0.9110 resistance zone.
- There is a connecting bearish trend line forming with resistance at 0.9130 on the hourly chart at FXOpen.
USD/CHF Technical Analysis
On the hourly chart of USD/CHF at FXOpen, the pair declined heavily below the 0.9140 level before the bulls appeared. The US Dollar tested 0.9085 and recently started a fresh increase against the Swiss Franc.
The pair climbed above the 0.9110 resistance zone. There was a break above the 50% Fib retracement level of the downward move from the 0.9153 swing high to the 0.9086 low.
The bulls are now facing resistance near the 50-hour simple moving average and 0.9130. There is also a connecting bearish trend line forming with resistance at 0.9130 and the 61.8% Fib retracement level of the downward move from the 0.9153 swing high to the 0.9086 low. The next major resistance is at 0.9140.
The main resistance is now near 0.9155. If there is a clear break above the 0.9155 resistance zone and the RSI remains above 50, the pair could start another increase. In the stated case, it could test 0.9200.
If there is another decline, the pair might test the 0.9110 support. The first major support on the USD/CHF chart is near the 0.9085 zone. A downside break below 0.9085 might spark bearish moves. The next major support is near the 0.9040 pivot level. Any more losses may possibly open the doors for a move toward the 0.9000 level in the near term.
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips. Open your FXOpen account now or learn more about trading forex with FXOpen.
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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