- USD/CHF seesaws around the intraday top while extending pullback from 0.9122.
- 10-day EMA adds to the upside barrier during the three-day winning streak.
- Sellers will have to conquer the key supports to dominate further.
USD/CHF prints 0.07% gains while trading around 0.9130 during the pre-European session. Although the pair rises for the third consecutive day after it’s U-turn from 0.9050, a falling trend line from July 17 and 10-day EMA stay tall to challenge the bulls.
As a result, the pair’s latest upside momentum is likely to falter unless it successfully crosses 0.9150 level comprising the said EMA. However, the quote’s further rise to the immediate resistance line near 0.9145 can’t be ruled out.
Should the buyers manage to print a daily closing beyond 0.9150, the resulted upside will eye 0.9200 and the monthly top near 0.9240.
Meanwhile, 0.9100 can offer immediate support to the pair during fresh declines, a break of which could recall the multi-month low near 0.9050 to the charts.
In a case where the bears dominate past-0.9050, 0.9000 psychological magnet can act like a tough nut to crack for the sellers before targeting January 20, 2015 top near 0.8840/35.
USD/CHF daily chart
Trend: Pullback expected
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