USD/CHF Likely To Rise Further

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USD/CHF Likely To Rise Further

ByLCMS Traders FX Analysis Team

 AUG 23, 2021

USD/CHF Daily Forecast

USD/CHF is currently trading 0.15% higher to 0.9162 after ending the last week on the lower side. The intraday support levels are at 0.9142 and 0.9118. The near-term resistance areas are at 0.9172 and 0.9195.

On the intraday charts, the overall price momentum appears bullish despite last Friday’s drop. The pair is currently well supported by the strength in the USD. The current price is keeping above the moving averages, both the SMA-14 and SMA-50 are currently at 0.9161. The pair is also keeping above the mid-Bollinger band which is at 0.9134 while the upper and lower bands are at 0.9258 and 0.9011. The current intraday price pattern suggests a further rise which makes the pair ideal for buying entries using the following levels

Direction: Buy

Entry: 0.9145

Take Profit: 0.9185

Stop-Loss: 0.9110

USD/CHF Likely To Rise Further

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