Today, we will consider another major USD/CHF currency pair to pay more attention to the price charts. This pair is interesting because, depending on the situation, both currencies can act as protective assets. However, since market participants are more concerned about the situation around the COVID-19 delta strain, the "American" seems to be the favorite for the role of a safe-haven currency. However, looking at the price charts, not everything is so obvious.

Weekly

As you can see, after falling to the level of 0.8925 and the appearance of a candle with a long lower shadow at the auction of the next five days, the pair showed impressive growth. However, the bulls on the instrument stalled. The attempt to continue the rise was limited by the level of 0.9270, from which the pair bounced to 0.9116 and was stuck in this range. The uncertain course of trading emphasizes the presence of USD/CHF within the Ichimoku indicator cloud. Last week, a Doji candle appeared, which has no body, which also does not shed light on the further direction of the quote. At this stage, the blue Kijun line provides strong support. However, the breakdown of the resistance of 0.9270 is ensured by the black 89 exponential moving average, which passes 20 points higher. I dare to assume that the upward scenario will continue only after the breakdown of 0.9270, 89 EMA, and the strong technical level of 0.9300. The bears' initial task will be to break through the support level of 0.9116, but the bears' problems will not end even after that. The chart clearly shows that the red Tenkan line of the Ichimoku indicator is located below the mark of 0.9116 and the blue 50 simple moving average. I will assume that only a true breakdown of 50 MA will increase the pressure on the pair and return the bears to control over USD/CHF.

Daily

On the daily chart, the situation is also far from clear. However, the pair has already left the Ichimoku indicator cloud. In addition, the range in which the dollar/franc is traded is narrower, and it can be designated as 0.9231-0.9116. Looking at Friday's and today's candles, you can see that the blue Kijun line of the Ichimoku indicator closes the road in the north direction of the quote and until a true breakdown of this line takes place, there can be no question of any growth. As for the downward scenario, it is not so simple here either.

Given that the pair is trading above the red Tenkan line, the orange 200 exponential moving average, and 89 EMA with 50 MA, the bears will need to make every effort to push through all this and find a strong driver for the price movement. If you give any trading recommendations, I immediately want to emphasize that the technical picture on the two timeframes considered does not give a clear idea of the further direction of the quote. And yet, I am more inclined to count on the growth of the pair. I suggest considering the opening of long positions after a true breakdown of 0.9200, on a rollback to this level. I recommend setting the nearest goals near 0.9240 and 0.9265.