USD/CHF Price Analysis: Teases weekly support around 0.9150

• USD/CHF picks up bids to reverse early Asian losses.
• 100-SMA offers intermediate stop inside weekly triangle, downbeat Momentum line signals corrective pullback.

USD/CHF extends pullback from intraday low to stand at par around 0.9145 ahead of Friday’s European session.

The Swiss currency (CHF) pair is up for the strongest week in a month even if the latest moves are restricted inside a one-week-old triangle.

It’s worth observing that the Momentum line hints at a further rebound from the stated triangle’s support line towards 100-SMA, also comprising a descending trend line from Wednesday, near 0.9160.

However, any further advances will be restricted by the triangle’s upper line near 0.9185, a break of which will aim for August month’s high near 0.9242 with the 0.9200 threshold acting as an intermediate halt.

Meanwhile, the triangle’s support near 0.9135 acts as an immediate hurdle to the south, a break of which will direct USD/CHF sellers to a late August low near 0.9100.

If the pair remains heavy below 0.9100, last month’s trough surrounding 0.9020 will be crucial to watch.

USD/CHF: Four-hour chart

Trend: Sideways