USDCHF Bulls Pause at the 0.9275 Recent High as Swissy Weakens

Updated:

USDCHF Price Analysis – December 7

The USDCHF pair maintains intraday lows at 0.9231 despite pausing the 0.9275 intraday high. Except for the USD, which gains versus the CHF, a risk-on market environment hurts safe-haven currencies. Overall, the pair may witness a short-term pullback as sellers challenge the buyers in the near term.

Key Levels
Resistance Levels: 0.9472, 0.9375, 0.9275
Support Levels: 0.9200, 0.9150, 0.9100
USDCHF Long term Trend: Ranging
In the long run, the pullback from 0.9275 was most likely just a corrective move, as evidenced by the rebound of 0.9088 to 0.9373 at 0.9231. That is to say, the larger downturn from 0.9472 could still be going on. The pair is now trading below the 13-day ranging moving average, indicating a medium-term consolidating trend.

Bullish traders could target the 0.9300 barrier level during the next trading session. While the momentum is still strong, a pullback to the 0.9177 lift-off zone is possible, but only in little rallies. The latest breakout to the 0.9250 level suggests that buyers have regained control of the market, and the price could be going into 0.9300 and beyond.
USDCHF Short term Trend: Ranging
The USDCHF is consolidating well above the temporary low of 0.9150, with a neutral intraday trend. The price may move inside the range as long as the 0.9275 resistance holds. A breach of 0.9200 on the negative will resume the slide from 0.9375, leading to a retest of the 0.9157 low.

A breach of 0.9275, on the other hand, would indicate a short-term bottom. In anticipation of a stronger rally, the intraday bias will be adjusted back to the upward. The 0.9275 resistance level may be approached next if the 0.9200 level is consistently surpassed. However, before making a significant advance, the quote’s future gains will be restricted by local roadblocks.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.