USDCHF Price Analysis – September 28
The USDCHF pair is trading higher on Tuesday, with the pair last seen trading around 0.9300, up almost 0.45 percent on the day. After posting strong positive momentum in the US session, the pair is consolidating gains. The USD continued to benefit from rising US bond rates, which acted as a tailwind.
Key Levels
Resistance Levels: 0.9547, 0.9472, 0.9375
Support Levels: 0.9242, 0.9175, 0.9080
USDCHF Long term Trend: Ranging
The US dollar remains strong versus the Swiss franc for the second day in a row, as the pair’s intra-day correction finds buyers at 0.9275, up from 0.9255. In a broader sense, the drop from 0.9332 is considered the third trend cycle since the level of 0.9472 (high). For the time being, there is no indication that the cycle will be completed.
In continuation, the next target will be a 138.2 percent projection from 0.9472 to 0.8926 from 0.9274 to 0.9018 levels. A strong breach of the 0.9332 resistance level, however, would be an early indication of trend reversal and a shift of attention back to the 0.9472 main resistance level for validation.
USDCHF Short term Trend: Bullish
The intraday tendency in USDCHF remains on the upswing for the initial 0.9300 barrier level. The projected 0.9332 resistance level for validation may easily be the key breach here, as an early indication of bullish reversal.
On the downside, at a low level of 0.9101, the downside is now preferred beneath the 0.9200 minor support level. After trading over 0.9275, the US dollar has taken on a near-term bid tone after hitting levels above 0.9300. The pair may surge into next session.
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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