USD/CHF Price Analysis: Depressed below 0.9200 on Thursday’s bearish Doji
|- USD/CHF stays pressured following a bearish candlestick formation of the previous day.
- Sustained trading below 50-day SMA, downbeat MACD also backs sellers to eye 200-day SMA.
USD/CHF holds lower ground near 0.9167, down 0.03% intraday, ahead of Friday’s European session. In doing so, the major currency pair respects Thursday’s bearish Doji, as well as seller-supportive MACD conditions.
Also backing the USD/CHF bears is the pair’s sustained trading below 50-day SMA, which in turn highlights another attempt to revisit the 200-day SMA level of 0.9089.
During the fall, the weekly bottom surrounding 0.9130 and the 0.9100 round-figure may offer intermediate halts.
Meanwhile, an upside break of the 0.9200 threshold will defy the bearish Doji and could direct the USD/CHF prices toward a 50-day SMA level of 0.9220. It’s worth mentioning that the previous month’s lows add strength to the 0.9220 hurdle.
In a case where the quote rises beyond 0.9220, USD/CHF bulls may not refrain to target mid-March tops near 0.9320 wherein the 0.9250 level can act as a buffer during the rise.
USD/CHF daily chart
Trend: Further weakness expected
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