USD/CHF Price Analysis: Justifies bullish Doji above 100-DMA to reclaim 0.9150

• USD/CHF eases from intraday top but prints strongest rebound in a week.
• Bullish candlestick above the key SMA favors buyers to aim for two-week-old resistance.
• 200-DMA, ascending trend line from early June adds to the downside filters.

USD/CHF trims intraday gains by declining to 0.91940 as European traders prepare for Wednesday’s bell. Even so, the Swiss currency (CHF) pair prints 0.20% daily gains, the most in a week.

Tuesday’s rebound by the quote formed a Doji candlestick formation above 100-DMA, which in turn favored USD/CHF bulls so far on Wednesday.

Despite the latest declines, the pair buyers remain hopeful unless the pair drops below 100-DMA level near 0.9115.

Even if the USD/CHF prices decline below 0.9115, the 0.9100 threshold, the 200-DMA level of 0.9075 and an ascending support line from June 09, near 0.9050, will challenge the bears.

On the contrary, a downward sloping resistance line from August 13, surrounding 0.9175, guards the quote’s immediate upside.

However, a clear rally past 0.9175 enables the USD/CHF buyers to refresh monthly top beyond 0.9240.

USD/CHF: Daily chart

Trend: Further recovery expected