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- USD/CHF Price Analysis: Seesaws around 0.9215 key level
USD/CHF Price Analysis: Seesaws around 0.9215 key level
- USD/CHF eases from two-week high, wavers near 200-SMA and descending trend line from November 26.
- Bullish MACD signals, weekly support line keep buyers hopeful.
USD/CHF consolidates recent gains around 0.9210, down 0.08% intraday while easing from a fortnight top marked the previous day. Even so, the Swiss currency (CHF) pair stays on the way to the first weekly run-up in three by early Friday in Asia.
That said, the latest pullback can aim for the 100-SMA level of 0.9187 before challenging the weekly support line, near 0.9160 by the press time.
It should be noted, however, that a clear downside beak of the 0.9160 will drag the quote towards the last monthly low surrounding 0.9100.
Following that, November’s low near 0.9080 may test the USD/CHF bears before directing them to August 2021 low close to 0.9020.
Given the bullish MACD and the quote’s weekly advances, a clear upside break of 0.9215 is more likely, which in turn could propel the quote towards the December 2021 peak of 0.9296.
After that, a successful rise past 0.9300 becomes necessary for the USD/CHF prices to aim for November’s peak of 0.9373.
USD/CHF: Four-hour chart
Trend: Further upside expected
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