USD/CHF Price Analysis: Bulls attack 100-SMA around 0.9200

USD/CHF seesaws around key SMA hurdle, recovers from intraday low.
Sustained trading beyond 200-SMA, bullish MACD signal further advances.
Monthly resistance line adds to the upside filters.

Anil Panchal FXStreet

USD/CHF holds onto the bounce off intraday low near 0.9193, reversing early Asian losses, amid the initial Monday’s trading. In doing so, the major currency pair keeps bounce off 200-SMA while attacking the 100-SMA resistance.

In addition to the successful up-move past 200-SMA, bullish MACD also favors the pair buyers to pass the 0.9200 nearby challenge.

However, any further north-run will need a clear break of a downward sloping trend line from July 02, near 0.9250, to refresh the monthly high of 0.9274.

Meanwhile, pullback moves may take a breather around 200-SMA level of 0.9130, a break of which will direct USD/CHF sellers to battle the monthly low near 0.9115.

In a case where USD/CHF refreshes monthly bottom, the 0.9100 threshold will be the key support to watch before eyeing the mid-June tops surrounding the 0.9000 psychological magnet.

To sum up, USD/CHF bulls keep the reigns ahead of a bumpy road to the north.

USD/CHF: Four-hour chart

Trend: Further recovery expected

Additional important levels

Overview
Today last price	0.9194
Today Daily Change	-0.0002
Today Daily Change %	-0.02%
Today daily open	0.9196

Trends
Daily SMA20	0.9194
Daily SMA50	0.9085
Daily SMA100	0.9163
Daily SMA200	0.9072

Levels
Previous Daily High	0.9204
Previous Daily Low	0.9173
Previous Weekly High	0.9204
Previous Weekly Low	0.9118
Previous Monthly High	0.9262
Previous Monthly Low	0.8926
Daily Fibonacci 38.2%	0.9192
Daily Fibonacci 61.8%	0.9185
Daily Pivot Point S1	0.9178
Daily Pivot Point S2	0.916
Daily Pivot Point S3	0.9147
Daily Pivot Point R1	0.9209
Daily Pivot Point R2	0.9222
Daily Pivot Point R3	0.924

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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