USD/CHF Price Analysis: Below 100-bar SMA inside weekly rising channel

Summary:
USD/CHF holds onto recovery gains inside the short-term bullish technical pattern. Key SMA, sluggish MACD question the buyers. In addition to the current risk-reset, USD/CHF takes clues from the technical indicators while rising 0.26% to 0.9493 amid the initial trading session on Tuesday. The pair recently bounced off the support-line of a one-week-old rising trend channel, which in turn pushes the quote towards a 100-bar SMA level of 0.9540. However, the quote’s further upside beyond 0.9540 might find it difficult to sustain as 61.8% Fibonacci retracement of the declines from early-February, at 0.9595, can question the buyers. If at all the bulls manage to conquer 0.9600 round-figure, 200-bar SMA and the resistance line of the said channel around 0.9655 could

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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