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- USD/CHF Price Analysis: Bulls eyes weekly hurdle around 0.9250
USD/CHF Price Analysis: Bulls eyes weekly hurdle around 0.9250
- USD/CHF stays firmer around intraday high, crosses 200-HMA.
- Upbeat oscillators join HMA break to direct bulls towards weekly resistance line.
- 100-HMA, immediate rising support line also challenges bears.
USD/CHF remains on the front foot around the intraday high of 0.9254, cheering the upside break of 200-HMA, ahead of Tuesday’s European session.
In addition to the 200-HMA breakout, upbeat RSI and MACD also favor the Swiss currency (CHF) pair buyers to aim for a one-week-old resistance line, around 0.9260 by the press time.
Should USD/CHF bulls overcome the 0.9260 hurdle, the upward trajectory will aim for the monthly high of 0.9277 ahead of challenging the 23.6% Fibonacci retracement (Fibo.) of late January’s upside moves, near 0.9290.
Alternatively, the 200-HMA level of 0.9250 restricts the immediate downside of the USD/CHF prices during fresh pullback.
Following that, an upward sloping trend line from Friday, around 0.9230, will be crucial to watch for the pair sellers. Also acting as a downside filter is the 100-HMA level of 0.9220.
In a case where USD/CHF prices decline below 0.9220, the recent swing low around 0.9175 should return to the charts.
USD/CHF: Hourly chart
Trend: Further upside expected
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