USD/CHF Price Analysis: Doji on 4H keeps buyers hopeful above monthly support line

  • USD/CHF consolidates the previous day’s fall from the weekly high.
  • MACD is still bullish, though mildly, while trading past-13-day-old rising trend line.
  • 200-bar EMA offers strong resistance ahead of the monthly top.

USD/CHF takes rounds to 0.9085 while heading into the European open on Friday. The Swiss major recently flashed a bullish Doji on the four hour (4H) chart while keeping its sustained trading beyond an ascending trend line from September 01.

Also favoring the buyers targeting further recovery could be the bullish MACD.

Hence, the 0.9100 threshold is back on the traders’ radar ahead of 0.9120 numbers to the north.

Though, 200-bar EMA near 0.9132 can question the bulls afterward, if not then the monthly high of 0.9200 will be in the spotlight.

On the contrary, a downside break of the immediate support line near 0.9065 may take rest near 0.9050/48 before challenging the month-start bottom around the 0.9000 round-figures.

USD/CHF four-hour chart

Trend: Pullback expected

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