The USD/CHF is performing admirably, extending gains for the fourth consecutive session.
If price decisively breaks 0.9260, the pair looks for more gains.
The momentum oscillator has remained in positive territory, indicating upward momentum.
In the European session on Thursday, the USD/CHF continues its gains from the previous day. The pair began the day on a positive note, reaching an intraday high of 0.9263.
The USD/CHF currency pair is currently trading at 0.9260, up 0.11 percent on the day.
On the daily chart, the USD/CHF pair has recovered quickly from its June 16 low of 0.8977, and after some consolidation, it has resumed its upward trend.
Bulls will be able to test the April 19 high of 0.9281 if the pair stays above 0.9260.
The MACD (Moving Average Convergence Divergence) indicator is safely above the midpoint. The reading shows that the pair has room to rise even higher.
Bulls in the USD/CHF would reclaim 0.9300, a significant psychological level last seen in early April. The 0.9320 horizontal resistance level could be the next rising objective.
Alternatively, if price reverses direction, the 0.9230 horizontal support level could be the first target for USD/CHF bearish.
The selling pressure might increase as the market approaches the previous day’s low in the 0.9200 area, then the 0.9180 horizontal support level./n
