USD/CHF stays positive near a three-week high. The resistance line of an eight-day-old rising trend channel limits the immediate upside. 200-bar SMA offers immediate support, SNB in the spotlight. USD/CHF pulls back from the resistance line of a short-term rising trend channel while taking rounds to 0.9695, up 0.16%, during the early Thursday. In addition to the channel’s resistance, nearly overbought RSI conditions also challenge the pair’s further upside. However, sellers will wait for the entry below 200-bar SMA level of 0.9650 while targeting 61.8% Fibonacci retracement level of February 20 to March 09 fall, at 0.9590. During the pair’s additional weakness past-0.9590, the said channel’s support line near 0.9490 will be the key to watch. On the upside, a sustained break of 0.9740 can propel the USD/CHF prices further towards late-February highs surrounding 0.9850. It should also be noted that the Swiss National Bank (SNB) is up for a monetary policy meeting decision at 08:30 GMT. While the Swiss central bank isn’t expected to announce any rate changes, a surprise moves can’t be ruled out amid the present rush to combat the coronavirus (COVID-19) fears. USD/CHF four-hour (H4) chart Trend: Bullish 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 Breaking: RBA cuts Official Cash Rate by 25 bps to 0.25%, AUD/USD bounces FX Street 2 years USD/CHF stays positive near a three-week high. The resistance line of an eight-day-old rising trend channel limits the immediate upside. 200-bar SMA offers immediate support, SNB in the spotlight. USD/CHF pulls back from the resistance line of a short-term rising trend channel while taking rounds to 0.9695, up 0.16%, during the early Thursday. In addition to the channel’s resistance, nearly overbought RSI conditions also challenge the pair’s further upside. However, sellers will wait for the entry below 200-bar SMA level of 0.9650 while targeting 61.8% Fibonacci retracement level of February 20 to March 09 fall, at 0.9590. During the pair’s… 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.
