The USDCHF pair, currently trading at 0.92228, has surpassed the 0.9200 level and is now reaching its highest prices in the last six months.

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• The USD/CHF has cleared 0.9200 and is roping in its highest prices in six months.

The pair currently trades last at 0.92228.

The previous day high was 0.9159 while the previous day low was 0.9117. The daily 38.2% Fib levels comes at 0.9143, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9133, expected to provide support.

The USD/CHF is on track to close in the green for the eleventh straight week as the Greenback (USD) picks up further steam against the Swiss Franc (CHF). US data beats continue to bolster the USD, and rising US Treasury yields on the back of concerns over a potential US government shutdown are adding fuel to the US Dollar fire.

On the CHF side, the Swiss National Bank (SNB) recently surprised markets with an unexpected freeze on rate hikes, and the SNB’s rate hike cycle appears to be well and truly over as inflation slumps below the Swiss central bank’s 2% target and the Swiss domestic economy continues to show signs of weakness.

US Durable Goods Orders surprised to the upside on Wednesday, with the headline figure for August printing 0.2%, a healthy rebound from the previous 5.6% decline and landing above the market forecast -0.5%.

Next up on the economic calendar for the USD will be Thursday’s Gross Domestic Product (GDP) figures, forecast to hold steady at 2.1% for the second quarter.

Friday sees Swiss Retail Sales for the annualized period into August, which last printed at -2.2%, while the US Core Personal Consumption Expenditure (PCE) Price Index is expected to hold in-line with the previous reading of 0.2%.

The USD/CHF has climbed nearly 8% from July’s lows near 0.8555, and prices have vaulted cleanly over the 200-day Simple Moving Average (SMA) near 0.9050.

the 0.9200 region is a neighborhood that plagued the USD/CHF with heavy consolidation in 2021.

Despite the recent rise on the charts, the USD/CHF still remains down almost 2.5% on the year, and buyers will need to overcome 2023’s cap before moving further.

Technical Levels: Supports and Resistances

USDCHF currently trading at 0.9216 at the time of writing. Pair opened at 0.9158 and is trading with a change of 0.63 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 0.895, 50 SMA 0.8828, 100 SMA @ 0.889 and 200 SMA @ 0.9033.

The previous day high was 0.9159 while the previous day low was 0.9117. The daily 38.2% Fib levels comes at 0.9143, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9133, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.913, 0.9102, 0.9088
• Pivot resistance is noted at 0.9172, 0.9187, 0.9215

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