Remains firm around 0.9210 after hitting a high shy of 0.9240. – Crypto News – Crypto News
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On the front foot around 0.9950, stays inside weekly bullish channel On the front foot around 0.9950, stays inside weekly bullish channel

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Remains firm around 0.9210 after hitting a high shy of 0.9240. – Crypto News

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3 years ago

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  • USD/CHF is down biased but subject to a mean reversal move towards 0.9300.
  • Solid resistance lies at 0.9235/40, with the confluence of technical indicators rejecting the USD/CHF rally.
  • USD/CHF Price Analysis: Bulls are optimistic if the pair remains above 0.9158.

After slumping on Wednesday, the USD/CHF stages a comeback recovering the 0.9200 psychological level, eyeing a break above a confluence of technical Indicators, In addition, a falling wedge continued to develop ahead of the following week’s busy financial calendar in the United States (US). At the time of typing, the USD/CHF exchanges hands at 0.9218, up by 0.22% from its opening price.

USD/CHF Price Analysis: Technical outlook

Short term, the USD/CHF is upward biased, although it was rejected at the confluence of a downward slope trendline and the 20-day Exponential Moving Average (EMA) around the 0.9235/40 area. Nevertheless, bulls remain hopeful for higher prices as long as the USD/CHF stays above the January 26 daily low at 0.9158.

Therefore, the USD/CHF first resistance would be the above-mentioned confluence of the 20-day EMA and a downslope trendline around 0.9240. Once cleared, the USD/CHF pair might rally towards January 24 daily high at 0.9279, followed by the January 12 ad 0.9360.

As an alternative scenario, the USD/CHF The first demand zone would be the January 26 daily low of 0.9158. Once broken, then the pair might dip to the YTD low at 0.9085.

USD/CHF Key Technical Levels

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