USD/CHF stays mildly bid after successfully crossing 21-day SMA. Five-week-old horizontal line guards immediate upside, 0.8821-23 adds to the downside filters. USD/CHF gains 0.12% intraday while picking up the bids around 0.8910 during early Tuesday. In doing so, the quote extends the upside break of 21-day SMA, portrayed the previous day, while also battling a short-term horizontal area comprising multiple highs since December 04. Although sustained break of short-term key SMA and bullish MACD favors USD/CHF buyers, the aforementioned horizontal resistance around 0.8821-23 guards immediate upside. Even if the quote manages to cross 0.8823, a downward sloping trend line from November 11, 2020, at 0.8945 now, probes the north-run. Additionally, the November low of 0.8982, the 0.9000 round-figure and a descending resistance line stretched from late-September, currently around 0.9060, will probe the USD/CHF bulls past-0.8945. Meanwhile, a 21-day SMA level of 0.8857 can probe immediate USD/CHF declines if it drops below the 0.8900 threshold. Also acting as the key support, before the multi-month low of 0.8757, is the area around 0.8822-20 that comprising multiple levels marked since December 15. USD/CHF daily chart Trend: Pullback expected FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Gold Price Analysis: XAU/USD needs to crack key $1858 barrier for further upside – Confluence Detector FX Street 11 months USD/CHF stays mildly bid after successfully crossing 21-day SMA. Five-week-old horizontal line guards immediate upside, 0.8821-23 adds to the downside filters. USD/CHF gains 0.12% intraday while picking up the bids around 0.8910 during early Tuesday. In doing so, the quote extends the upside break of 21-day SMA, portrayed the previous day, while also battling a short-term horizontal area comprising multiple highs since December 04. Although sustained break of short-term key SMA and bullish MACD favors USD/CHF buyers, the aforementioned horizontal resistance around 0.8821-23 guards immediate upside. Even if the quote manages to cross 0.8823, a downward sloping trend line from… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
