Jumps strongly off 50-day EMA, sets sights on 0.9100 – Crypto News – Crypto News
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Jumps strongly off 50-day EMA, sets sights on 0.9100 – Crypto News

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  • USD/CHF shows bullish momentum, targeting the 0.9100 mark with 0.27% gains.
  • RSI and three-day RoC indicators suggest bullish dominance despite sideways movement.
  • Overcoming the 0.9120 hurdles could steer the USD/CHF towards the 0.9147 and 0.9200 landmarks.

USD/CHF bounces off the 50-day Exponential Moving Average (EMA) and threatens to claim the 0.9100 figure late after Wall Street closed. The US Dollar (USD), propelled by risk aversion, helped the USD/CHF to register solid gains of 0.27%. At the time of writing, the USD/CHF is trading at 0.9090 after hitting a low of 0.9043.

USD/CHF Price Analysis: Technical outlook

From the USD/CHF daily charts perspective, the pair is neutrally biased, consolidated within the limits of solid support found around the 20- and 50-day EMAs, each at 0.9036 and 0.9040) and resistance at the 100-day EMA at 0.9123. Although price action remains sideways, the Relative Strength Index (RSI) shows bulls are in charge, further cemented by the three-day Rate of Change (RoC). Hence, the USD/CHF path of least resistance is upwards. Of note, the Average True Range (ATR) suggests that volatility in the pair could lean up to 60 pips.

Dialing into the USD/CHF hourly chart, price action remains sideways, though it broke above a resistance trendline late in the New York session, exacerbating a rally above 0.9100. However, buyers must reclaim the weekly high of 0.9120, so they can pose a threat towards last week’s high of 0.9128. The breach of those levels will pave the way towards the R1 daily pivot at 0.9147, ahead of challenging the 0.9200 figure. Conversely, a fall below the daily pivot at 0.9083 could open the door towards the EMAs at around 0.9074/76, followed by the 200-EMA at 0.9065.

USD/CHF Price Action – Hourly chart

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