USD/CHF Price Analysis: Bulls attack 100-SMA around 0.9200

• USD/CHF seesaws around key SMA hurdle, recovers from intraday low.
• Sustained trading beyond 200-SMA, bullish MACD signal further advances.
• Monthly resistance line adds to the upside filters.

USD/CHF holds onto the bounce off intraday low near 0.9193, reversing early Asian losses, amid the initial Monday’s trading. In doing so, the major currency pair keeps bounce off 200-SMA while attacking the 100-SMA resistance.

In addition to the successful up-move past 200-SMA, bullish MACD also favors the pair buyers to pass the 0.9200 nearby challenge.

However, any further north-run will need a clear break of a downward sloping trend line from July 02, near 0.9250, to refresh the monthly high of 0.9274.

Meanwhile, pullback moves may take a breather around 200-SMA level of 0.9130, a break of which will direct USD/CHF sellers to battle the monthly low near 0.9115.

In a case where USD/CHF refreshes monthly bottom, the 0.9100 threshold will be the key support to watch before eyeing the mid-June tops surrounding the 0.9000 psychological magnet.

To sum up, USD/CHF bulls keep the reigns ahead of a bumpy road to the north.

USD/CHF: Four-hour chart

Trend: Further recovery expected