USD/CHF Price Analysis: On the bids towards 0.9200 inside weekly rising wedge

• USD/CHF refreshes intraday top inside a bearish chart pattern.
• 100-HMA adds restricts immediate downside, one-week-old horizontal line guards nearby upside.
• Momentum lacks bullish strength, sellers need 0.9175 breakdown for entry.

USD/CHF stays bid near 0.9195, up 0.23% intraday, as European traders prepare for Tuesday’s bell. In doing so, the major currency pair justifies the bounce off 100-HMA to aim for the weekly horizontal resistance.

It should, however, be noted that the descending slope of the Momentum line and a one-week-old rising wedge bearish formation keeps USD/CHF sellers hopeful.

Though, a clear downside break of 0.9175 support becomes necessary for the bears to refresh the monthly low under 0.9100.

Meanwhile, a clear upside past 0.9200 will be probed by the wedge’s resistance line near 0.9230 and the monthly high surrounding 0.9275.

If at all the USD/CHF bulls stay firmer beyond 0.9275, the 0.9300 and early March’s swing high around 0.9375 should return to the charts.

USD/CHF: Hourly chart

Trend: Pullback expected