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
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
US Bitcoin spot exchange-traded funds (ETFs) have seen more inflows this year so far compared to the same point in 2024, according to data.
The Job Openings and Labor Turnover Survey (JOLTS) will be released on Wednesday by the United States (US) Bureau of Labor Statistics (BLS).
The Gold price (XAU/USD) gains momentum to near $3,645 during the early Asian session on Thursday.
BTC, ETH options for a total of $5.3B are expiring on Friday, bringing another period of potential price volatility.
Related Instrument
