- Analytics
- News and Tools
- Market News
- USD/CHF Price Analysis: Eases inside weekly rising wedge around 0.9250
USD/CHF Price Analysis: Eases inside weekly rising wedge around 0.9250
- USD/CHF steps back from monthly peak, refreshes intraday low of late.
- Bearish chart pattern, receding bullish bias of MACD keep sellers hopeful.
- Key HMAs add to the downside filters, bulls have multiple hurdles on the north.
USD/CHF consolidates the previous day’s heavy gains around 0.9240, down 0.14% intraday around early Tuesday.
In doing so, the Swiss currency (CHF) pair steps back from a one-week-old rising wedge bearish chart pattern on the hourly formation amid easing bullish bias of the MACD.
Hence, the quote is likely to challenge the bearish pattern’s support line near 0.9210, a break of which will theoretically trigger the south-run targeting a fresh low of the monthly around 0.9050.
During the fall, 100 and 200-HMA levels, respectively near 0.9195 and 0.9160, will precede the monthly bottom of 0.9088 to offer intermediate halts.
Alternatively, recovery moves need to the wedge’s upper line, near 0.9255 at the latest, to defy the bearish chart pattern.
Following that, the 0.9300 threshold and the mid-October peak close to 0.9315 will be in focus.
USD/CHF: Hourly chart
Trend: Further weakness expected
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
