USD/CHF Price Prediction: Closing in on 200-day SMA as uptrend extends
Source Fxstreet
- USD/CHF keeps rising on US Dollar strength
- It is close to meeting resistance from the 200-day SMA.
USD/CHF extends its short and medium-term uptrend and rises up to within spitting distance of the 200-day Simple Moving Average (SMA).
USD/CHF Daily Chart
It will probably encounter tough resistance at the 200 SMA which could pullback as a result.
Given the technical analysis theory that “the trend is your friend”, however, it is likely to eventually resume its uptrend.
A decisive break above the 200 SMA at 0.8818 would probably result in a continuation up to the next target at 0.8873 (July 30 swing high).
The Relative Strength Index (RSI) momentum indicator is not yet overbought suggesting the pair has more upside potential before it gets overextended.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitcoin shows strong correlation with institutional demand following 7% uptickBitcoin's price has largely tracked net institutional demand over the past year, according to Bitwise. Net institutional demand is the buying activity of global exchange-traded products (ETPs) and treasury companies minus new supply.
Bitcoin's price has largely tracked net institutional demand over the past year, according to Bitwise. Net institutional demand is the buying activity of global exchange-traded products (ETPs) and treasury companies minus new supply.
Silver price corrects almost 6% to near $86.50 during the Asian trading session on Thursday.
Standard Chartered lifts Ethereum call to $7,500, arguing institutional demand could leave Bitcoin trailingStandard Chartered raised its year-end Ethereum target to $7,500 (from $4,000), citing institutional demand, while projecting $25,000 by 2028 and scenarios toward $40,000 by 2030 amid ETF- and treasury-driven accumulation.
Standard Chartered raised its year-end Ethereum target to $7,500 (from $4,000), citing institutional demand, while projecting $25,000 by 2028 and scenarios toward $40,000 by 2030 amid ETF- and treasury-driven accumulation.
Despite higher-than-expected Producer Price Index (PPI) inflation data for November, Bitcoin surged to new eight-week highs, diverging from US stock markets.
Bitcoin nears two-month highs with key indicators signaling potential for further gains as it targets $101,000.
Related Instrument
