USD/CHF gained strong positive traction on Monday and recovered further from multi-year lows. Bulls might now wait for a sustained move beyond a strong resistance near the 0.8915-20 region. The USD/CHF pair gained some strong positive traction on the first day of a new trading week and built on last week’s bounce from multi-year lows. The momentum extended through the mid-European session and pushed the pair beyond the 0.8900 mark, to two-week tops in the last hour. The pair has now moved closer to 0.8915-20 supply zone, which coincides with the top boundary of an upward sloping channel. A convincing breakthrough will be seen as a fresh trigger for bullish traders and pave the way for a further near-term appreciating move amid a broad-based USD strength. Meanwhile, technical indicators on the daily chart have just started moving into the bullish territory and add credence to the constructive outlook. That said, oscillators on hourly charts are on the verge of moving into the overbought territory and warrant some caution for bullish traders. Hence, it will be prudent to wait for some strong follow-through buying beyond the 0.8915-20 strong barrier before placing fresh bullish bets. The subsequent positive move has the potential to push the USD/CHF pair further towards reclaiming the key 0.9000 psychological mark. On the flip side, any meaningful dip now seems to find decent support near the 0.8875 level. Any subsequent fall is likely to find decent support near the trend-channel support, around mid-0.8800s. The latter also marks 50-hour SMA and should act as a pivotal point for short-term traders. USD/CHF 1-hourly chart Technical levels to watch 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 UK PM Johnson: Will be ramping up vaccinations significantly toward Feb. 15 FX Street 1 year USD/CHF gained strong positive traction on Monday and recovered further from multi-year lows. Bulls might now wait for a sustained move beyond a strong resistance near the 0.8915-20 region. The USD/CHF pair gained some strong positive traction on the first day of a new trading week and built on last week's bounce from multi-year lows. The momentum extended through the mid-European session and pushed the pair beyond the 0.8900 mark, to two-week tops in the last hour. The pair has now moved closer to 0.8915-20 supply zone, which coincides with the top boundary of an upward sloping channel. A convincing… Regulated 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.