USD/CHF Eyes Recovery
USD/CHF is rising and might aim more gains above the 0.9220 resistance.
Important Takeaways for USD/CHF
· USD/CHF started a fresh increase above the 0.9150 resistance zone.
· There was a break above a major bearish trend line with resistance near 0.9175 on the hourly chart.
USD/CHF Technical Analysis
The US Dollar started a fresh increase from the 0.9135 zone against the Swiss franc. The USD/CHF pair gained pace above the 0.9150 resistance to set the pace for a decent increase.
There was a clear move above the 0.9160 resistance zone and the 50 hourly simple moving average. Besides, there was a break above a major bearish trend line with resistance near 0.9175 on the hourly chart.
USD/CHF Hourly Chart
The bulls even pushed the pair above 0.9200 level. A high was formed near 0.9222 and the pair is now consolidating gains. An immediate resistance is near the 0.9220 level.
The next major resistance is near the 0.9250 level. If there is a clear break above the 0.9250 resistance zone, the pair could start another increase. In the stated case, it could test 0.9320.
On the downside, an immediate support is near the 0.9190 level. It is near the 38.2% Fib retracement level of the upward move from the 0.9136 swing low to 0.9222 high.
The next major support is near the 0.9175 level and the 50 hourly simple moving average. It is close to the 50% Fib retracement level of the upward move from the 0.9136 swing low to 0.9222 high. Any more losses may possibly open the doors for a move towards the 0.9150 level or even 0.9120 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 0.9150 resistance zone.
· There was a break above a major bearish trend line with resistance near 0.9175 on the hourly chart.
USD/CHF Technical Analysis
The US Dollar started a fresh increase from the 0.9135 zone against the Swiss franc. The USD/CHF pair gained pace above the 0.9150 resistance to set the pace for a decent increase.
There was a clear move above the 0.9160 resistance zone and the 50 hourly simple moving average. Besides, there was a break above a major bearish trend line with resistance near 0.9175 on the hourly chart.
USD/CHF Hourly Chart
The bulls even pushed the pair above 0.9200 level. A high was formed near 0.9222 and the pair is now consolidating gains. An immediate resistance is near the 0.9220 level.
The next major resistance is near the 0.9250 level. If there is a clear break above the 0.9250 resistance zone, the pair could start another increase. In the stated case, it could test 0.9320.
On the downside, an immediate support is near the 0.9190 level. It is near the 38.2% Fib retracement level of the upward move from the 0.9136 swing low to 0.9222 high.
The next major support is near the 0.9175 level and the 50 hourly simple moving average. It is close to the 50% Fib retracement level of the upward move from the 0.9136 swing low to 0.9222 high. Any more losses may possibly open the doors for a move towards the 0.9150 level or even 0.9120 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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