The USD/CHF pair is recovering from recent losses, trading around 0.8830 during the Asian session on Thursday. The pair appears to maintain a bullish bias, as it continues to move upwards within an ascending channel pattern on the daily chart.
The 14-day Relative Strength Index (RSI) is just above the 50 level, signaling a positive market momentum. Additionally, the nine-day Exponential Moving Average (EMA) remains above the 14-day EMA, further indicating a short-term bullish trend.
Upside Targets and Support Levels
On the upside, the USD/CHF pair is testing key resistance levels, including the 14-day EMA at 0.8832 and the nine-day EMA at 0.8847. A successful break above these levels could reinforce the bullish trend, propelling the pair towards the upper boundary of the ascending channel, with a psychological target of 0.8900.
On the downside, support is found near the lower boundary of the ascending channel at the 0.8750 level. A break below this could shift the bias towards a bearish outlook, with potential for the pair to move toward its six-week low of 0.8606.
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