- November 10, 2020
- Posted by: Analysis Team
- Category: Forex News
- USD/CHF trims intraday losses inside a bullish chart formation.
- Sustained trading beyond 200-candle SMA favor buyers, bears can aim for 0.9000 below the key SMA.
USD/CHF fades the bounce off 0.9115 while easing to 0.9125, down 0.15% intraday, ahead of Tuesday’s European session.
While bearish MACD conditions keep sellers hopeful, the bullish flag on the 30-minute chart takes clues from the successful trading above 200-bar SMA to favor the buyers. However, confirmation of the chart play becomes necessary while eyeing the pair’s further upside past-0.9143.
This highlights 0.9140 as the key upside barrier holding the gate for the USD/CHF bulls targeting the monthly high above 0.9200.
Meanwhile, the downside break of the immediate falling channel’s support, at 0.9115 down, will quickly fetch the quote 200-stick SMA near 0.9075.
In a case where the USD/CHF prices stay downbeat under 0.9075, Friday’s top surrounding 0.9025 can offer intermediate halts to the fall targeting the 0.9000 round-figure.
USD/CHF 30-MINUTE CHART
Trend: Further recovery expected