USD/CHF Price Analysis: Breaks two-day losing skid

 

While defending the rebound from the weekly support line, USD/CHF posts modest gains. The 13-day-old resistance line is the objective of a 200-HMA investigation of the run-up. MACD and RSI indicate that current movements to the north may continue. In its first weekly positive performance in three going into Thursday’s European session, USD/CHF gains up bids to 0.9420. The Swiss Franc pair also breaks the two-day downtrend as it grinds close to the intraday high.

The recent increase in the quotation may be explained by the frequent reversals of the ascending trend line that has been in place for one week.

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