USD/CHF remains depressed as the US dollar struggle to extend the previous day’s recovery moves. Monthly resistance line, yearly support restrict immediate moves. Confluence of 50-day, 100-day SMA, five-week-old horizontal area add to the upside filters. Bears can target early February tops on the break of the key support line. With the recent pullback from 0.9167, USD/CHF not only reversed the early Asian gains but also prints intraday losses while heading into Wednesday’s European session. As a result, the bearish MACD signals doubt the USD/CHF pair’s corrective pullback, portrayed the previous day. However, an ascending support line from January 06, around 0.9140, holds the door to the pair’s south-run towards the February 05 peak of 0.9045. During the fall, the latest low of 0.9128 may offer an intermediate halt. On the flip side, an upside clearance of the monthly resistance line near 0.9175 will push the USD/CHF bulls to battle with the 0.9205-10 confluence comprising 10-day and 50-day SMA. Also acting as an upside barrier is the 0.9225-30 horizontal area including multiple levels marked since March 17. Overall, USD/CHF stays on the bear’s radar despite Tuesday’s recovery moves. USD/CHF daily chart Trend: Further weakness 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 BoC Preview: USD/CAD is likely to react significantly higher to a dovish surprise FX Street 2 years USD/CHF remains depressed as the US dollar struggle to extend the previous day's recovery moves. Monthly resistance line, yearly support restrict immediate moves. Confluence of 50-day, 100-day SMA, five-week-old horizontal area add to the upside filters. Bears can target early February tops on the break of the key support line. With the recent pullback from 0.9167, USD/CHF not only reversed the early Asian gains but also prints intraday losses while heading into Wednesday's European session. As a result, the bearish MACD signals doubt the USD/CHF pair's corrective pullback, portrayed the previous day. However, an ascending support line from January 06,… 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.
