USD/CHF Extends Rally
USD/CHF is rising and might aim more gains above the 0.9450 resistance.
Important Takeaways for USD/CHF
· USD/CHF started a fresh increase above the 0.9350 resistance zone.
· There was a break above a major bearish trend line with resistance near 0.9315 on the hourly chart.
USD/CHF Technical Analysis
The US Dollar started a fresh increase from the 0.9280 support zone against the Swiss franc. The USD/CHF pair gained pace above the 0.9340 resistance to set the pace for a decent increase.
There was a clear move above the 0.9380 resistance zone and the 50 hourly simple moving average. Besides, there was a break above a major bearish trend line with resistance near 0.9315 on the hourly chart.
USD/CHF Hourly Chart
The bulls even pushed the pair above 0.9400 level. A high was formed near 0.9435 and the pair is now consolidating gains. An immediate resistance is near the 0.9450 level.
The next major resistance is near the 0.9500 level. If there is a clear break above the 0.9500 resistance zone, the pair could start another increase. In the stated case, it could test 0.9620.
On the downside, an immediate support is near the 0.9400 level. It is near the 23.6% Fib retracement level of the upward move from the 0.9286 swing low to 0.9435 high. The next major support is near the 0.9380 level and the 50 hourly simple moving average.
Any more losses may possibly open the doors for a move towards the 0.9320 level or even 0.9280 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 0.9350 resistance zone.
· There was a break above a major bearish trend line with resistance near 0.9315 on the hourly chart.
USD/CHF Technical Analysis
The US Dollar started a fresh increase from the 0.9280 support zone against the Swiss franc. The USD/CHF pair gained pace above the 0.9340 resistance to set the pace for a decent increase.
There was a clear move above the 0.9380 resistance zone and the 50 hourly simple moving average. Besides, there was a break above a major bearish trend line with resistance near 0.9315 on the hourly chart.
USD/CHF Hourly Chart
The bulls even pushed the pair above 0.9400 level. A high was formed near 0.9435 and the pair is now consolidating gains. An immediate resistance is near the 0.9450 level.
The next major resistance is near the 0.9500 level. If there is a clear break above the 0.9500 resistance zone, the pair could start another increase. In the stated case, it could test 0.9620.
On the downside, an immediate support is near the 0.9400 level. It is near the 23.6% Fib retracement level of the upward move from the 0.9286 swing low to 0.9435 high. The next major support is near the 0.9380 level and the 50 hourly simple moving average.
Any more losses may possibly open the doors for a move towards the 0.9320 level or even 0.9280 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.
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