USD/CHF Price Analysis: Crosses weekly resistances line to poke 0.9300

USD/CHF stays firmer around intraday top, pares weekly losses.
Monthly rising triangle restricts short-term moves amid firmer RSI.
200-SMA break will validate bearish chart pattern confirmation.

Anil Panchal FXStreet

USD/CHF buyers cheer an upside break of a one-week-old resistance line, now support, while edging higher around 0.9300 as European traders brace for Friday’s bell.

Given the RSI line trending upwards, the latest resistance break will help the pair bulls to keep reins.

In doing so, the quote may rise towards the upper line of the one-month-old ascending triangle, near 0.9330. However, any further upside will need to cross September’s high of 0.9368 to keep the fort.

It should be noted that the USD/CHF advances past 0.9368 will aim for the 0.9400 threshold before highlighting the yearly peak near 0.9470.

On the flip side, the resistance-turned-support and the lower line of the stated triangle, respectively near 0.9280 and 0.9245, will question the pair’s short-term downside.

Even if the USD/CHF falls below the 0.9245 support, theoretically confirming the bearish move, the 200-SMA level of 0.9223 will probe the south run.

USD/CHF: Four-hour chart

Trend: Further upside expected

Additional important levels

Overview
Today last price	0.9297
Today Daily Change	0.0010
Today Daily Change %	0.11%
Today daily open	0.9287

Trends
Daily SMA20	0.9264
Daily SMA50	0.9194
Daily SMA100	0.9151
Daily SMA200	0.9121

Levels
Previous Daily High	0.9292
Previous Daily Low	0.9253
Previous Weekly High	0.9368
Previous Weekly Low	0.9244
Previous Monthly High	0.9368
Previous Monthly Low	0.9116
Daily Fibonacci 38.2%	0.9277
Daily Fibonacci 61.8%	0.9268
Daily Pivot Point S1	0.9262
Daily Pivot Point S2	0.9238
Daily Pivot Point S3	0.9223
Daily Pivot Point R1	0.9302
Daily Pivot Point R2	0.9317
Daily Pivot Point R3	0.9341

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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