USD/CHF Price Analysis: Breaks 0.9100 with bulls targeting YTD high

• USD/CHF up over 0.20%, closing above 0.9100 on Monday.
• Potential for further gains if pair surpasses 0.9150, targeting 0.9200 and YTD high of 0.9224.
• Key supports at 0.9100, 50-DMA (0.9049), and 0.8988 in case of bearish momentum.

On Monday, the USD/CHF registered more than 0.20% gains, with buyers regaining control and achieving a daily close above 0.9100. This was sponsored by high US yields, which underpinned the Greenback, though it posted modest gains. As the Tuesday Asian session begins, the major trades at 0.9104, virtually unchanged.

USD/CHF Price Analysis: Technical outlook

From a technical perspective, the pair has reversed its course after diving to a multi-week low of 0.8988, though buyers lifted the USD/CHF and achieved a daily close above 0.9060. That opened the door for a bullish continuation. But momentum has faded so far, as shown by the Relative Strength Index (RSI), which remains bullish but has a flat slope.

If bulls lift the USD/CHF above 0.9150, that will exacerbate a rally to 0.9200. Once surpassed, the next stop would be the year-to-date (YTD) high at 0.9224.

Conversely, if sellers moved in and dragged the USD/CHF exchange rate below 0.9100, that would pave the way to test the 50-day moving average (DMA) at 0.9049. Further losses lie at 0.9000 and 0.8988.

USD/CHF Price Action – Daily Chart