USD/CHF Price Analysis: Extended its fall after battling the 0.9300 figure
|- USD/CHF retraced some of the last week’s gains after struggling at the 50-day EMA.
- USD/CHF Price Analysis: It is still neutral-to-downward biased, but it could increase once 0.9300 is reclaimed.
The USD/CHF is subdued amidst a thin liquidity trading session sponsored by a holiday in the United States (US), with traders enjoying a long weekend in the observation of President’s Day. At the time of writing, the USD/CHF is trading at 0.9230, below its opening price by 0.12%.
From a daily chart perspective, the USD/CHF remains neutral to downward biased. On Friday, the USD/CHF reached a new multi-week high but reversed its course and finished with losses of 0.12%. The bearish continuation extended today, though it was capped by the 20-day Exponential Moving Average (EMA) at 0.9223.
For a bearish resumption, the USD/CHF must clear the 20-day EMA, followed by the psychological 0.9200 mark. A breach of the latter will expose the February 9 swing low at 0.9160, followed by the February 14 daily low of 0.9135, ahead of the 0.9100 psychological level.
Conversely, the USD/CHF first resistance would be the 50-day EMA At 0.9279, followed by the 0.9300 figure. A decisive break and the buyers could send the USD/CHF aiming towards the 100-day EMA At 0.9388, ahead of the 0.9400 mark.
USD/CHF Daily chart
USD/CHF Key technical levels
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