USD/CHF – The pair looking good to regain the 1.02000 level
The USD/CHF currency pair on the 4-hour time frame has been following an uptrend. The price jumped above the key psychological level of 1.02000 on 26 April to register the highest level of period under study at 1.02363. Strength in the US Dollar is the main reason behind recent bullish move in the USD/CHF. The price is currently hovering around 1.01950, looking good to regain the 1.02000 level.
The 4-hour chart of the USD/CHF confirms the positive sentiment in the price movement as the pair is making successively higher tops and higher bottoms.
By applying Oscillators Analysis, all three indicators confirm the positive bias in the market. As the chart shows, price is well above the 200-period Moving Average. The MACD (Moving Average Convergence/Divergence) is recording values above the zero-line which shows positive sentiment in the USD/CHF. RSI (Relative Strength Index) showing values above 50 which supports the bullish sentiment.
In alternative scenario, first resistance level lies at 1.01699, followed by 1.00944. Bears must break these levels in order to regain bearish sentiment in the market.
The 4-hour chart of the USD/CHF confirms the positive sentiment in the price movement as the pair is making successively higher tops and higher bottoms.
By applying Oscillators Analysis, all three indicators confirm the positive bias in the market. As the chart shows, price is well above the 200-period Moving Average. The MACD (Moving Average Convergence/Divergence) is recording values above the zero-line which shows positive sentiment in the USD/CHF. RSI (Relative Strength Index) showing values above 50 which supports the bullish sentiment.
In alternative scenario, first resistance level lies at 1.01699, followed by 1.00944. Bears must break these levels in order to regain bearish sentiment in the market.