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- USD/CHF Price Analysis: Bulls taking on the daily resistance, eyes on 0.9330s
USD/CHF Price Analysis: Bulls taking on the daily resistance, eyes on 0.9330s
- USD/CHF bulls are moving in to test important resistance.
- 0.9150 is being left behind and bulls are drifting higher in the 0.9200s with 0.9330 on the radar.
USD/CHF is firm in the Asian session as bulls commit to the prospects of a bullish breakout. The following illustrates the outlook on the daily and 4-hour charts where bulls have engaged towards a critical level of resistance.
USD/CHF daily chart
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From the 61.8% ratio, the price is moving higher following the strong rejection at the prior daily support. Should the bulls commit at this juncture, then a break of the resistance will open risk into the 0.93 areas.
USD/CHF H4 chart
-637747003242909011.png)
On the 4-hour chart, there is the potential for an inverse head & shoulders. The right-hand shoulder is potentially under construction where it meets the 21-EMA. 0.9270 will be the level to clear which could lead to a rally into the 0.9330s.
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