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.

EUR/USD remains depressed below mid-1.1800s; downside potential seems limited

The EUR/USD pair attracts some sellers for the second consecutive day on Tuesday and hovers below mid-1.1800s amid a relatively quiet trading action during the Asian session. The broader fundamental backdrop, however, warrants some caution for bearish traders before positioning for deeper losses.

GBP/USD trades with negative bias, eyes 1.3600 ahead of UK jobs data

The GBP/USD pair trades with a negative bias for the second straight day, though it lacks bearish conviction and holds above the 1.3600 mark through the Asian session on Tuesday. Traders now look forward to the release of the UK monthly jobs report, which will influence the British Pound and provide some impetus to the currency pair.

Gold declines as trading volumes remain subdued due to holidays in China

Gold price extends its losses for the second successive session, trading around $4,930 per troy ounce during the Asian hours on Tuesday. Gold price is trading nearly 0.7% lower at the time of writing as trading volumes stayed thin due to market holidays across China, Hong Kong, and other parts of Asia.

Top Crypto Gainers: Stable, MemeCore and Nexo rally test critical resistance levels

Stable, MemeCore, and Nexo are among the leading gainers in the crypto market over the last 24 hours, while Bitcoin remains below $70,000, suggesting renewed interest in altcoins among investors.

The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

XRP steadies in narrow range as fund inflows, futures interest rise

Ripple is trading in a narrow range between $1.45 (immediate support) and $1.50 (resistance) at the time of writing on Monday. The remittance token extended its recovery last week, peaking at $1.67 on Sunday from the weekly open at $1.43.