USDCHF Maintains Pace From Prior Session Despite 0.9240/50 Barrier

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USDCHF Price Analysis – September 14

During the early Tuesday session, the USDCHF pair retreated lower but overall has continued to main the prior day’s advance beyond the 0.9200 psychological level. The risk-on scenario harmed the safe-haven CHF, although it stayed resilient despite the rising USD.

Key Levels
Resistance Levels: 0.9375, 0.9304, 0.9240
Support Levels: 0.9200, 0.9150, 0.9100
USDCHF Long term Trend: Ranging
This week, the US Dollar has extended its surge versus the Swiss Franc above the 0.9200 level. USDCHF, meanwhile, found reinforced resistance near the 0.9240 level, resulting in a new range trading. After a few days of drifting, the US dollar returns to action on Friday, registering steady gains against the strong Swiss franc.

A breach of the 0.9242 resistance level on the upside is the first hint of medium to long-term bottoming. As a result, except for some strong follow-through buying, maybe beyond the overnight swing high, around the 0.9240 levels. Having said that, if the price manages to move higher, it may test the July high of 0.9274 level.
USDCHF Short term Trend: Ranging
USDCHF is extending its consolidation pattern from the recent low of 0.9150, and the intraday bias remains neutral. A breach of the 0.9101 low level will resume a bigger slump on the downside. The USDCHF pair has risen to test the August high of 0.9142. The more critical 0.9275 July high sits above this, and the market may hold it on the initial test.

In addition, if the 0.9200 support level is sustained, the rebound would resume towards the next level of 0.9275 to 0.9300 levels. A negative break of the immediate support line at 0.9175, on the other hand, could take a breather near 0.9120 levels before attempting to challenge the month-start bottom around the 0.9100 round-figures.

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