- USD/CHF picks up bids to refresh intraday high, extend previous week’s rebound from 22-month low.
- Bullish MACD signals allow USD/CHF to consolidate recent losses but March’s low guards immediate upside.
- Multiple resistance lines, 100-SMA stand tall to challenge USD/CHF bulls.
- Sellers need validation from 0.9035 to aim for fresh multi-month low.
USD/CHF renews its intraday high near 0.9065 during early Easter Monday in Europe. In doing so, the Swiss Franc (CHF) pair extends the previous day’s recovery from a 22-month low while approaching a one-month-old support-turned-resistance surrounding 0.9075.
It’s worth noting that the bullish MACD signals join the corrective bounce off the multi-day low to lure USD/CHF buyers as they approach the previous support near 0.9075.
Even if the quote manages to stay firmer past 0.9075, downward-sloping resistance lines from March 26 and 15, respectively near 0.9095 and 0.9145, can check the USD/CHF buyers.
Even so, the Swiss currency pair buyers need to portray a successful upside break of the 100-bar Simple Moving Average (SMA), around 0.9160, to please the USD/CHF buyers.
Following that, 0.9225 and a late March swing high of around 0.9345 will be in focus.
On the flip side, multiple lows around 0.9035-30 can test the USD/CHF bears before recalling them to the driver’s seat. However, the 0.9000 psychological magnet may challenge the sellers afterward.
In a case where USD/CHF remains bearish past 0.9000, June 2021 low near 0.8925 may lure the sellers.
USD/CHF: Four-hour chart
Trend: Limited recovery expected
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD stays below 1.1100 after upbeat US data
EUR/USD struggles to gain traction and trades below 1.1100 in the second half of the day on Wednesday. The data from the US showed that employment in private sector rose at a stronger pace than forecast in September, supporting the USD.
GBP/USD remains on the backfoot below 1.3300
GBP/USD continues to trade below 1.3300 in the American session on Wednesday. US ADP Employment Change came in at 143,000 in September, surpassing the market expectation of 120,000 and making it difficult for the pair to stage a rebound.
Gold hovers around $2,660 after US opening
Spot Gold hovers around $2,650 a troy ounce on Wednesday, confined to a tight trading range amid a generally pessimistic market mood favoring both Gold and the US Dollar (USD).
Bitcoin holds above $61,000 after sell-off driven by escalating conflict between Israel and Iran
Bitcoin recovers slightly on Wednesday, trading above $61,000, after Tuesday’s slump due to the escalating Israel-Iran conflicts. The decline, which led BTC to trade below $61,000, wiped out more than $500 million from the crypto market.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.