- USD / CHF is hesitating below the 0.9285 resistance level.
- The overall bias remains positive while above the trend line support at 0.9250.
The US dollar hesitated against the Swiss franc for the second day in a row on Thursday. The pair has rebounded from the trend line support at the 0.9250 area, however it seems unable to extend its recovery beyond the 0.9285 resistance so far.
Technical indicators are suggesting a neutral to slightly positive bias, which would be confirmed once the pair breaks the aforementioned 0.9285 (23.6% Fibonacci retracement of the August-September rally). A clear confirmation up here would enhance the bullish momentum and open the way to 0.9310 (Oct 6 high) and attempt a retest of multi-month highs at 0.9365.
On the downside, a clear dip below the trend line support from the early August low, now around 0.9260 would cancel the positive trend and expose 0.9215 (September 22, 23 and 24 lows) and a pullback 50% Fibonacci at 0.9295.
USD / CHF 4-hour chart
Technical levels
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