USD/CHF Technical Analysis: 200-day SMA, 7-week-old trendline cap rise to 8-day high

Summary:
Following its latest recovery, USD/CHF rises to the highest since the previous Tuesday. 200-day SMA and multi-week-old resistance line hold the key to pair’s run-up towards 1.0000 mark. 0.9870 can entertain short-term sellers. Based on its U-turn from 0.9870, the USD/CHF pair current takes the bids to the highest in eight-day while trading around 0.9940 during early Friday. However, 200-day Simple Moving Average (SMA) and a downward sloping trend line since October-starts, around 0.9950 and 0.9965 respectively, stand tall to challenge buyers. It’s worth mentioning that the pair’s run-up beyond 0.9965 enables it to claim 1.0000 round-figure whereas the previous month high close to 1.0030 could challenge bulls then after. Should prices take a U-turn from the present

Topics:
Anil Panchal considers the following as important: 1) SNB and CHF, 1.) FXStreet on SNB&CHF, Featured, newsletter, USD/CHF

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