Continued with its struggle to extend the momentum beyond the parity mark. Despite the intraday pullback, the pair has managed to hold above 200-DMA. The USD/CHF pair continued with its struggle to make it through the parity mark and witnessed a modest pullback on Wednesday, albeit held above the very important 200-day SMA. Given the pair’s repeated bounce from a support marked by the lower end of a two-month-old ascending trend-channel, the near-term bias remains tilted in favour of bullish traders. Moreover, oscillators maintained the bullish territory 4-hourly/daily charts and support prospects for some dip-buying interest near the trend-channel support – around the 0.9940 region. However, traders are likely to wait for a sustained move beyond the 1.10 handle before positioning for any further appreciating move back towards the recent swing highs near the 1.0025-30 region. The pair could then extend the momentum further, though is likely to confront stiff resistance near the top end of the mentioned trend-channel, currently near the 1.0100 round-figure mark. Conversely, a decisive break below the trend-channel support might turn the pair vulnerable to break below the 0.9900 handle and aim towards testing the 0.9860-55 support area. USD/CHF daily chart 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 The cryptocurrency market resumes the decline, Bitcoin (BTC) dangerously close to $8,000 FX Street 4 years Continued with its struggle to extend the momentum beyond the parity mark. Despite the intraday pullback, the pair has managed to hold above 200-DMA. The USD/CHF pair continued with its struggle to make it through the parity mark and witnessed a modest pullback on Wednesday, albeit held above the very important 200-day SMA. Given the pair's repeated bounce from a support marked by the lower end of a two-month-old ascending trend-channel, the near-term bias remains tilted in favour of bullish traders. Moreover, oscillators maintained the bullish territory 4-hourly/daily charts and support prospects for some dip-buying interest near the… 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.
