Seesaws around 0.9215 key level

  • USD/CHF eases from two-week high, wavers near 200-SMA and descending trend line from November 26.
  • Bullish MACD signals, weekly support line keep buyers hopeful.

USD/CHF consolidates recent gains around 0.9210, down 0.08% intraday while easing from a fortnight top marked the previous day. Even so, the Swiss currency (CHF) pair stays on the way to the first weekly run-up in three by early Friday in Asia.

That said, the latest pullback can aim for the 100-SMA level of 0.9187 before challenging the weekly support line, near 0.9160 by the press time.

It should be noted, however, that a clear downside beak of the 0.9160 will drag the quote towards the last monthly low surrounding 0.9100.

Following that, November’s low near 0.9080 may test the USD/CHF bears before directing them to August 2021 low close to 0.9020.

Given the bullish MACD and the quote’s weekly advances, a clear upside break of 0.9215 is more likely, which in turn could propel the quote towards the December 2021 peak of 0.9296.

After that, a successful rise past 0.9300 becomes necessary for the USD/CHF prices to aim for November’s peak of 0.9373.

USD/CHF: Four-hour chart

Trend: Further upside expected


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