Safe-haven demand sends USD/CHF lower to test 0.9500


  • USD/CHF tanks as the Swiss Franc is one of the outperformers of the day.
  • The psychological 0.9500 level has just been used as a support level.

USD/CHF 4-hour chart

The Swiss Franc is one of the key outperformers on the session with USD/CHF falling 0.77% and AUD/CHF dropping 1.54%. The chart below shows the extent of the bearishness as the market continues to make lower high and lower lows. This move is very interesting as risk assets like equities are trading near or at all-time highs in the US.

The next target on the downside could be the 0.9450 level which has been used a few times in the past as support and resistance. At the current psychological level the price has bounced in the past and this is marked by the circle on the left and side of the chart. 

The technical indicators are also oversold as the Relative Strength Index trades below the 30 area in the oversold zone. The MACD histogram is also in the red and the signal lines are extending their move lower.

USDCHF drops

Additional levels

USD/CHF

Overview
Today last price 0.9501
Today Daily Change -0.0075
Today Daily Change % -0.78
Today daily open 0.9576
 
Trends
Daily SMA20 0.9663
Daily SMA50 0.9685
Daily SMA100 0.968
Daily SMA200 0.9775
 
Levels
Previous Daily High 0.9639
Previous Daily Low 0.9556
Previous Weekly High 0.9651
Previous Weekly Low 0.9542
Previous Monthly High 0.9784
Previous Monthly Low 0.9589
Daily Fibonacci 38.2% 0.9588
Daily Fibonacci 61.8% 0.9607
Daily Pivot Point S1 0.9542
Daily Pivot Point S2 0.9507
Daily Pivot Point S3 0.9458
Daily Pivot Point R1 0.9625
Daily Pivot Point R2 0.9674
Daily Pivot Point R3 0.9708

 

 

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