USD/CHF Daily Analysis
USD/CHF is currently trading higher at 0.9292 after making a low of 0.9194 on 31 March. The intraday support levels are at 0.9260 and 0.9231. The near-term resistance levels are at 0.9300 and 0.9327.
On the intraday charts, the technical indicators are giving mixed signals. The pair is keeping above the moving averages with SMA-14 showing support at 0.9267 and the SMA-50 support line is at 0.9260. The RSI is still near the neutral zone and not giving a clear direction at the moment. The mid-band is at 0.9312 while the upper and lower bands are at 0.9456 and 0.92091 respectively. Based on the intraday price pattern and the availability of the nearby support levels the pair is like to gain further which makes it ideal for buy entries on smaller dips. A reasonable buy entry will be at or near 0.9265 with a target of 50 to 60 pips and a stop-loss at 0.9225.
Bulls require an intraday closing above 0.9300 to retain control. Failing to achieve this may offer an opportunity to the bears to take control and test the 0.9200 support zone during this week.
