USD/CHF holds above its key hourly moving averages, keeping a modest bullish bias intact, but the pair still needs to clear a swing area near 0.8151 before buyers gain firmer control.
USD/CHF stayed pinned inside a range that has contained most trading between 0.8029 and 0.8151, with brief moves outside those extremes failing to turn into a sustained break in either direction. The pair's session low reached 0.8113 before buyers stepped back in and pushed price higher.
That rebound carried USD/CHF into a swing area between 0.8138 and 0.8151, with the day's high touching 0.8145. The pair remains above the 100-hour moving average at 0.8107 and the 200-hour moving average at 0.8101, levels near the middle of the broader range that now act as close support. The 0.8138-0.8151 swing area, meanwhile, provides close resistance.
Buyers need to get and stay above 0.8151 to strengthen the bullish bias, which would put the July swing highs near 0.8206 in view. A move back below the hourly moving averages at 0.8107 and 0.8101 would tilt the short-term bias back toward sellers and open the door to the 0.8060-0.8070 swing area, followed by the lower end of the range near 0.8030.
For now, the bias stays modestly in favor of buyers because price continues to hold above the key hourly averages. Still, a break above 0.8151 is needed before buyers can claim greater control.
Source: Investinglive
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