- Analytics
- News and Tools
- Market News
- USD/CHF Price Analysis: Keeps bounce off 21-day EMA above 0.9300
USD/CHF Price Analysis: Keeps bounce off 21-day EMA above 0.9300
- USD/CHF remains mildly bid while keeping the week-start rebound from short-term key EMA.
- Strong RSI hints at another attempt to cross 0.9375 hurdle, 50% Fibonacci retracement will test bears below 21-day EMA.
USD/CHF picks up bids to renew intraday high around 0.9337 during Wednesday’s Asian session.
That said, the Swiss currency (CHF) pair portrayed a volatile move on Tuesday with an initial run-up to 0.9373 before ending the day on a negative note around 0.9330.
Even so, the quote holds onto Monday’s U-turn from the 21-day EMA amid firmer RSI conditions, not overbought, which in turn signals further upside for the USD/CHF prices.
Hence, the 23.6% Fibonacci retracement (Fibo.) of January-March advances, near 0.9375, lure short-term buyers ahead of the monthly peak of 0.9460.
It should be noted that the 0.9400 threshold will act as an intermediate halt during the rise.
On the contrary, a daily close below the 21-day EMA level near 0.9300 will recall the USD/CHF bears.
Following that, the 50% Fibonacci retracement level surrounding 0.9275 and 61.8% Fibo. of 0.9232 will test the downside momentum ahead of the key support line from January, near 0.9180 at the latest.
USD/CHF: Daily chart
Trend: Further upside 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
