USDCHF Technical Analysis: At the beginning of this week, the USD/CHF pair is trading in an upward trend, with the pair recording its highest price so far at 0.91763 and its lowest price at 0.91371. Currently, the pair is trading at 0.91582. Technical analysis shows that prices are trading above the moving averages, which reinforces expectations of the continuation of the bullish trend at the present time.
USDCHF Technical Analysis: General Trend Analysis
The pair continues to move in an upward trend, reflecting the presence of strong buying momentum in the market. Trading prices above the moving averages indicates that the bullish trend is currently dominant, which indicates the possibility of continuing the gains in the short term.
Technical Analysis
Moving Averages: Prices are trading above the short-term and long-term moving averages, which supports the bullish trend. If the pair continues to maintain its trading above these averages, the bullish trend is expected to continue, with the possibility of testing higher resistance levels.
MACD Analysis: MACD is indicating a positive trend, as the fast line continues to trade above the slow line, which reinforces expectations of continued bullish momentum. The positive crossover of the indicator reflects the presence of strong buying pressure, which reinforces the possibility of continued gains.
Today’s USD Forecast:
The pair is expected to continue trading in an upward direction if it continues to trade above the moving averages. Nearby resistance levels may be at 0.9170, and if exceeded, the rise may extend towards 0.9200. On the other hand, any decline may find support near 0.9130.
Trading strategies based on Buy/Sell levels
| USDCHF | In case of buying | in case of selling |
| Entry point | 0.91832 | 0.91394 |
| Target Point 1 (TP1) | First resistance: 0.91994 | First support: 0.91174 |
| Target Point 2 (TP2) | Second resistance: 0.92101 | Second support: 0.91812 |
| Stop Loss (SL) | 0.91394 | 0.91832 |
Based on the moving averages and MACD analysis, the overall trend for the USD/CHF pair remains bullish in the short term. The buying momentum is expected to continue in the upcoming sessions, while monitoring key resistance and support levels to identify future trading opportunities.
