Daily Forex Analysis – USD/CHF
In today’s Daily Forex Analysis, our focus shifts to the USD/CHF pair. The intraday outlook for USD/CHF remains bullish for the time being. The ongoing ascent, originating from 0.8553, aims for a critical resistance cluster around 0.9148. On the flip side, should the pair break below the support at 0.8895, it would hint at potential short-term peak formation, redirecting the focus towards the 55-day EMA, currently situated at 0.8860.
Zooming out for our Daily Analysis, the recent bounce from the 0.8553 medium-term floor is primarily viewed as a counter-move to the prevailing downtrend that initiated at 1.0148, marking the high of 2022. A further climb towards the 0.9148 resistance cluster is expected. This zone aligns closely with the 38.2% retracement level from 1.0148 down to 0.8553, calculated at 0.9162. Notably robust resistance is likely to be encountered at this juncture, curbing any substantial upside—at least during the initial attempt.
Analysis Summary
In our USD/CHF Daily Forex Analysis, the intraday outlook remains bullish, targeting the 0.9148 resistance cluster. However, breaking below 0.8895 could signal a short-term reversal. The broader view suggests this is a correction phase within the downtrend that began in 2022.
Key Points
- Targeting 0.9148 resistance cluster in USD/CHF Intraday Analysis
- Support break at 0.8895 may indicate short-term peak
- Correction to the 2022 downtrend, stronger resistance at 0.9148 expected
