FX.co ★ Kool | USD/CHF

USDCHF H4 Chart Analysis: Last week, the USD/CHF pair tested its resistance level of 0.83040. Later in the day, it rebounded to 0.82740. Despite the increased chance of a price rebound, buyers are eyeing the 20 SMA, 50 SMA, and 100 SMA for a long-term reversal. However, the aforementioned averages move in sync on a daily basis, indicating that they are in lockstep. It is also worth noting that the USD/CHF currency pair has already reached the oversold zone, signaling a positive trend in the next months. Our short-term target is 0.82540, which is a recent market resistance level. At this point, I'm planning to purchase today as the 200 SMA line crosses between 0.82540 and 0.82840, suggesting that buyer control is still strong. Even if the 0.83040 resistance level stays in place, a break over 0.83440 is still possible. The H4 timeframe is an attractive one for tracking USD/CHF. Last week, sellers dominated the market price, which peaked at 0.85040 before falling to 0.82040. The price then dropped to 0.81640 throughout the Asian and European sessions on Friday. The price rose again after sustaining both a dynamic and active support line at the 200 SMA. As a consequence of this strength, USD/CHF has been moving away from support around 0.83090 in recent days. If the price settles above 0.83040, we may revisit the area of 0.82440 to 0.82840. If the USD/CHF pair breaks through the 0.82440 support level, it is likely to fall to 0.82090 as the pair continues to deteriorate. Nonetheless, the price may continue to fall below 0.82140, trading between 0.83090 and 0.83440 for the foreseeable future.