- USD/CHF tries to touch one-week high; the pair clears a descending trendline from August 3.
- 200-bar SMA ahead amidst a bullish MACD.
- A slip below 100-SMA might attract the bears.
USD/CHF was trading near 0.9110, higher by 0.21 Percent from earlier close, during the pre-European session today. The pair recently pierced a one-month-old resistance line, and the line now acts as support to the up-move which is also supported by a bullish MACD.
The bulls are targeting the 200-bar SMA level of 0.9145 now and if successful will look at the August 20 peak near 0.9160.
Bears might not cede ground until the August month high around 0.9240/45 is conquered.
In case of a bearish turn, a fall below the previous resistance near 0.9100 might find the 100-bar SMA level of 0.9088 as a support, and a further fall could probably push the USD/CHF to the yearly bottom – close to 0.9000.