USD/CHF Price Analysis: Bulls flirt near 0.9180 mark

• USD/CHF prints minute gains on Friday in the initial Asian session.
• Bulls remain hopeful above 50-day SMA at 0.9166.
• Momentum oscillator adopts the wait-and-a-watch approach before aggressive bets.

USD/CHF edges higher at the ending of the week in the Asian trading hours. The pair hovers in a very close trading range of 10-pips with an upside momentum.

At the time of writing, USD/CHF is trading at 0.918-, up 0.04 % for the day.

USD/CHF additional levels

On the daily chart, the USD/CHF pair has been facing strong resistance near 0.9180 with multiple top formations. 
The descending trendline from the high of 0.9274 made on July 2 acts as a strong resistance barrier for the bulls.

Being said that, If price moves higher, it could immediately test the August 19  high at 0.9207.

A sustained move above the psychological 0.9200 mark, would extend the upside movement at the 0.9235 horizontal resistance level.

The Moving Average Convergence Divergence (MACD) trades just near the midline with a neutral stance. Any uptick in the MACD would encourage the bulls to continue to march higher towards July 7 high at 0.9267.

If price starts moving lower the 50-day Simple Moving Average (SMA) at 0.9166, it could retest the 0.9145 horizontal support level.

Further, it could drop toward the low of August 17 at 0.9099.

USD/CHF bears would seek the next target at the 0.9075 horizontal support level.

USD/CHF additional levels