USD/CHF Price Analysis: Recovery moves fade below 0.9250 resistance

USD/CHF eases from intraday high of 0.9216 while snapping a two-day losing streak.
Successful bounce off 0.9190 takes clues from RSI strength in the hourly chart to suggest further upside.
A short-term horizontal area on the bulls’ radar ahead of the monthly top.
Two-week-old rising trend line adds to the support.

Anil Panchal FXStreet

USD/CHF consolidates the recent jump around 0.9210, up 0.17% intraday, while heading into Wednesday’s European session. In doing so, the Swiss franc regains its stand above 200-HMA after clearing an immediate resistance line. Also suggesting further upside of the pair could be the bounce from 0.9190.

Hence, USD/CHF buyers are all set to challenge a horizontal area, including multiple levels since September 24, around 0.9250. Although, the quote’s further upside will be challenged by the 0.9280 intermediate resistance before recalling the monthly top, actually the highest since July 23, close to 0.9300.

If at all the traders manage to cross 0.9300 round-figures, the early-July low near 0.9365 will be in the spotlight.

Meanwhile, the 0.9200 threshold becomes nearby key support, including 200-HMA and the previous resistance line, ahead of the latest lows close to 0.9190.

Also likely to challenge the USD/CHF bears is an upward sloping trend line from September 16, at 0.9163 now.

USD/CHF hourly chart

Trend: Further recovery expected

Additional important levels

Overview
Today last price	0.9209
Today Daily Change	16 pips
Today Daily Change %	0.17%
Today daily open	0.9193

Trends
Daily SMA20	0.9152
Daily SMA50	0.9135
Daily SMA100	0.9333
Daily SMA200	0.9511

Levels
Previous Daily High	0.9249
Previous Daily Low	0.9191
Previous Weekly High	0.9296
Previous Weekly Low	0.9087
Previous Monthly High	0.9242
Previous Monthly Low	0.8999
Daily Fibonacci 38.2%	0.9213
Daily Fibonacci 61.8%	0.9227
Daily Pivot Point S1	0.9173
Daily Pivot Point S2	0.9153
Daily Pivot Point S3	0.9115
Daily Pivot Point R1	0.9231
Daily Pivot Point R2	0.927
Daily Pivot Point R3	0.929

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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