Products You May Like
USD/CHF touches a high of 0.9743 on the day
If the gains hold, the pair is set for its biggest rise in almost two months now. The dollar is pushing higher across the board still extending gains against the swissie and euro notably. EUR/USD has been dragged to a low of 1.1556 on the session.
As for USD/CHF, the pair is now closing in on a test of the 200-day MA (blue line) @ 0.9749. Break above that and the bearish momentum that was established last week will be broken. And that will be a key win for buyers moving forward.
But there is also a key level to break above in the hourly chart nearby:
With the greenback already sustaining key near-term momentum in EUR/USD, GBP/USD, and USD/JPY on the day, a break above the 200-hour MA (blue line) @ 0.9758 will only add further fuel to the dollar’s momentum as buyers in USD/CHF will regain near-term control in the pair.
These two levels will be the key areas to watch today for USD/CHF. If buyers can move above both of them on the close today, it sets up for a good platform for a further run to the upside this week.
This article was originally published by Forexlive.com. Read the original article here.