USDCHF remains caught in a consolidative range after failing to sustain a downside break below the key swing area near 0.8794–0.8800. The pair dipped beneath this support in the Asian Pacific session after a number of tests in the area last week. However, the break quickly rebounded, highlighting the level's importance as a defensive line for buyers.
On the topside, the pair is now testing the 100- and 200-hour moving averages, which converge near 0.881–0.88225 area, serving as immediate resistance. The 200 day moving averages below that area and 0.88093. A move above this zone would tilt short-term momentum more in favor of the bulls.
Beyond that, stronger resistance awaits between 0.8828 and 0.8848, marked by a broader swing area from earlier this month. A break above this barrier could open the door toward the 38.2% retracement of the move down from the March high at 0.8862 and possibly extend toward the next key zone around 0.8900 area.
Stay below the moving averages and the low of the swing area at 0.8794 would need to be broken to increase the bearish bias.
Until then, the consolidation continues with buyers showing resilience and sellers needing a confirmed break below 0.8794 to regain control.
Key technical levels:
Support: 0.8800, 0.8794, 0.8872 to 0.8876, and 0.8755
Resistance: 0.88225 (100/200 HMA), 0.8848 (swing area), 0.8862 (38.2% fib)
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about usdchf technical analysis key resistance at 0 8828 0 8848 caps upside for now was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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