- USD/CHF refreshes intraday high while piercing 0.9200.
- Multiple upside barriers beyond trend line resistance stand tall to probe the bulls.
- 200-bar EMA, one-month-old rising support be the key to watch during the fresh downside.
USD/CHF takes the bids near 0.9207, up 0.21% on a day, ahead of Friday’s European session. The Swiss currency recently weakened after 200-bar EMA performed its role of strong support.
With the MACD histogram likely returning in the favor of the bulls, the pair’s latest recovery can cross the falling trend line from Monday, near 0.9215 now.
Though, there are multiple hurdles to the north around 0.9250 and 0.9280, not to forget the September month peak surrounding 0.9300, which can challenge USD/CHF buyers afterward.
Meanwhile, a downside break below the 200-bar EMA level of 0.9168 may direct sellers towards a 50% Fibonacci retracement of August 31 to September 25 upside, around 0.9150.
However, an ascending trend line from September 01 and the 61.8% of Fibonacci retracement, close to 0.9110, will be a tough nut to break for the bears past-0.9150.
USD/CHF four-hour chart
Trend: Further recovery expected
Share
