USD/CHF Surges
USD/CHF is rising and might aim a move toward the 0.9220 resistance.
Important Takeaways for USD/CHF Analysis Today
· USD/CHF is gaining pace above the 0.9135 resistance zone.
· There is a key bullish trend line forming with support near 0.9150 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 climbed above the 0.9010 resistance zone against the Swiss Franc.
The bulls were able to pump the pair above the 50-hour simple moving average and 0.9135. A high is formed near 0.9174 and the pair is still showing signs of more upsides. On the upside, the pair is now facing resistance near 0.9175.
The next major resistance is at 0.9200. The main resistance is now near 0.9220. If there is a clear break above the 0.9220 resistance zone and the RSI climbs above 80, the pair could start another increase. In the stated case, it could test 0.9300.
If not, there could be a downside correction. On the downside, immediate support on the USD/CHF chart is near a key bullish trend line at 0.9150.
The first major support is near the 50-hour simple moving average and the 23.6% Fib retracement level of the upward move from the 0.9020 swing low to the 0.9174 high at 0.9135. A downside break below 0.9135 might spark bearish moves.
The next major support is near the 61.8% Fib retracement level of the upward move from the 0.9020 swing low to the 0.9174 high at 0.9080. Any more losses may possibly open the doors for a move toward the 0.9010 level 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 0.9135 resistance zone.
· There is a key bullish trend line forming with support near 0.9150 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 climbed above the 0.9010 resistance zone against the Swiss Franc.
The bulls were able to pump the pair above the 50-hour simple moving average and 0.9135. A high is formed near 0.9174 and the pair is still showing signs of more upsides. On the upside, the pair is now facing resistance near 0.9175.
The next major resistance is at 0.9200. The main resistance is now near 0.9220. If there is a clear break above the 0.9220 resistance zone and the RSI climbs above 80, the pair could start another increase. In the stated case, it could test 0.9300.
If not, there could be a downside correction. On the downside, immediate support on the USD/CHF chart is near a key bullish trend line at 0.9150.
The first major support is near the 50-hour simple moving average and the 23.6% Fib retracement level of the upward move from the 0.9020 swing low to the 0.9174 high at 0.9135. A downside break below 0.9135 might spark bearish moves.
The next major support is near the 61.8% Fib retracement level of the upward move from the 0.9020 swing low to the 0.9174 high at 0.9080. Any more losses may possibly open the doors for a move toward the 0.9010 level 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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