- USD/CHF marks another attempt to cross 200-bar SMA amid receding strength of bullish MACD.
- Three-day-old support line can restrict immediate declines, bulls can aim for monthly top beyond 0.9155.
USD/CHF wavers near an intraday high of 0.9152, currently up 0.08% at 0.9150, during the pre-European session on Friday. Alike other major currency pairs, USD/CHF also benefited from the broad US dollar strength the previous day. Though, the quote is yet to clear short-term key resistances. Also favoring the sellers could be easing bars of the MACD histogram.
As a result, the bears are waiting for a clear break below an ascending trend line from Tuesday, near 0.9140 for fresh entries.
Following that, 0.9125, the 0.9100 round-figure and the monthly low near 0.9085 will be in the spotlight.
On the upside, 200-bar SMA and a falling trend line from September 30, respectively near 0.9150 and 0.9155, can challenge short-term buyers.
However, a sustained rise past-0.9155 will trigger a USD/CHF rally towards the monthly top around 0.9220 with the 0.9200 threshold likely acting as an intermediate halt.
Source from https://www.fxstreet.com/news/usd-chf-price-analysis-bulls-turn-cautious-awaits-clear-break-of-09155-202010160456