Daily Forex Analysis – USD/CHF
The current Intraday Outlook suggests a pause in momentum as the consolidation from the 0.9228 mark persists. A deeper pullback is plausible, but the prevailing bullish sentiment will remain intact, provided the 0.9023 support remains unbreached. A conclusive surge past 0.9228 could reignite the rally that started from 0.8555, setting sights on the 0.9443 resistance.
The recent dynamics hint at the reversal of the entire downtrend from 1.0150. The potential bullish journey might extend towards the 61.8% retracement level at 0.9541. As things stand, the trend’s resilience will likely be anchored by the 55 Daily EMA, currently positioned at 0.8946, ensuring the bullish narrative’s continuation even if occasional retreats materialize.
Analysis Summary
The Daily Forex Analysis highlights USD/CHF’s consolidation phase around 0.9228. While a deeper correction is possible, the pair’s bullish trajectory, tracing back from the 2020 low, appears set to target higher resistances, fortified by underlying technical indicators.
Key Points
- USD/CHF’s consolidation around 0.9228 leaves room for possible pullbacks.
- A sustained break above 0.9228 could steer the rally towards the 0.9443 mark.
- The broader bullish narrative is underscored by the 55 D EMA at 0.8946.
