USD/CHF hits fresh three-week lows near 0.9200

Swiss franc among top performers of the American session.
US dollar sideways, DXY holds above 92.00.

Matías Salord FXStreet

The USD/CHF dropped further during the American session and bottomed at 0.9216, the lowest level since March 17. It is falling for the seventh time out of the last eight trading days.

The Swiss franc is among the top performers on Monday. EUR/USD fell under 1.1000 to the lowest since early March. The US dollar is down across the board; however, over the last hours, it managed to gain some support amid a rebound in US yields ahead of a debt auction. The DXY is down for the day but held above 92.00.

USD/CHF at a critical support level

The USD/CHF is testing mid-March lows around 0.9210/20. A consolation below would likely open the doors to further losses. The next support stands at 0.9175. The momentum favors the downside, but it is around a strong barrier that could limit the decline.

If the pair holds above 0.9220, a rebound seems likely. Even a recovery to 0.9300/15 would be seen as corrective. Above the 20-day moving average (0.9320/25), the greenback could gain strength for an approximation to 0.9400.

Technical levels

USD/CHF

Overview
Today last price	0.9226
Today Daily Change	-0.0018
Today Daily Change %	-0.19
Today daily open	0.9244

Trends
Daily SMA20	0.933
Daily SMA50	0.9175
Daily SMA100	0.9038
Daily SMA200	0.9101

Levels
Previous Daily High	0.9282
Previous Daily Low	0.9237
Previous Weekly High	0.9439
Previous Weekly Low	0.9232
Previous Monthly High	0.9459
Previous Monthly Low	0.9071
Daily Fibonacci 38.2%	0.9254
Daily Fibonacci 61.8%	0.9265
Daily Pivot Point S1	0.9227
Daily Pivot Point S2	0.9209
Daily Pivot Point S3	0.9182
Daily Pivot Point R1	0.9271
Daily Pivot Point R2	0.9299
Daily Pivot Point R3	0.9316

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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