- USD/CHF rebounds around 0.9170s as buyers stepped in, lifting the pair nearby 0.9200.
- For the USD/CHF to extend its losses, it needs a daily close below 0.9200.
- Otherwise, a bullish harami candlestick pattern could exacerbate a USD/CHF rally toward 0.9300.
USD/CHF is trimming Monday’s losses and bounces from daily lows, as sellers failed to gain traction beneath the 0.9200 figure, achieving a daily low of 0.9194 before giving way to buyers. Therefore, the USD/CHF is forming a bullish harami candlestick pattern, pending confirmation. Therefore, the USD/CHF is trading at 0.9234, gaining 0.25%.
USD/CHF Price Analysis: Technical outlook
After failing to extend its losses below 0.9167, the USD/CHF stages a comeback. Formation of a bullish harami could open the door for further upside, though it needs to be confirmed once the USD/CHF reclaims 0.9292. If that scenario is achieved, then the USD/CHF next resistance would be the 20-day Exponential Moving Average (EMA), which tracks bullish/bearishness price action in the pair, at 0.9299. followed by the last week’s high of 0.9409.
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