USDCHF Continues in a Range Remaining Near Mid 0.9100

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USDCHF Price Analysis – September 7

On Tuesday, the USDCHF volatility eventually settles near mid 0.9100. The pair is ranging in its movement within a relatively narrow trade area after recording a high at 0.9168 on Monday. The Swiss Franc strengthens due to its safe-haven appeal, while recent US job data is scrutinized.

Key Levels
Resistance Levels: 0.9275, 0.9200, 0.9150
Support Levels: 0.9100, 0.9050, 0.9000
USDCHF Long term Trend: Ranging
For the time being, the USDCHF pair appears to have remained in a range despite minor losses, while any substantial move higher remains elusive. As a result, any following upward movement is more likely to be met by a new supply near the 0.9175-0.9200 level. As a result, any further gains for the USDCHF pair near the 0.9200 round-figure marks should be limited for the time being.

However, USDCHF may hold above 0.9200 and surge beyond 0.9242 in the short future, if the preceding count is correct. The immediate resistance level is 0.9200, and a breach of this level will send the price to the 0.9240-75 zone. Also, keep in mind that triangle breakouts are very sharp, and a 0.9275 level will be easily attained.
USDCHF Short term Trend: Ranging
After dipping below 0.9200, the USDCHF rebounded sharply in the short term. The pair’s intraday bias has remained in a range within mid 0.9100, this time down from the 0.9150 mid-level. A decisive break upside would signal a positive turnaround and lead to prolonged advances toward the 0.9200 resistance level, which would be tested.

The breakout of immediate support at 0.9120, on the other hand, might be the target of the 0.9100 low retests. Below is the 0.9080 first level of support. Next support is found at 0.9050, followed by 0.9018. Its 4-hour RSI is hanging and pointing higher, indicating that the USDCHF might continue to recover.

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