- USD/CHF trades at 0.8963, just shy of the key 0.9000 level, after gaining 4.50% from its year-to-date low.
- Buyers aim to reclaim the 0.9000 psychological mark and the 200-day Moving Average at 0.9039 for further upside.
- Downside risks emerge if the pair falls below the September 14 daily low of 0.8914, targeting the 0.8900 mark and the 50-DMA at 0.8774.
The USD/CHF extended its gains in the week to five consecutive days and printed a new two-month high at 0.8977, yet it remains shy of reclaiming the 0.9000 figure. Nevertheless, the pair is set to continue its uptrend and challenge the 200-day Moving Average (DMA() at 0.9039 once buyers reclaim 0.9000. At the time of writing, the major is trading at 0.8963 after hitting a daily low of 0.8944.
The daily chart portrays the pair’s recovery after printing a new year-to-date (YTD) low of 0.8552. Since then, the USD/CHF has achieved gains of 4.50% as buyers stepped in and lifted the exchange rate to current levels. Even though buyers reclaimed the 50-DMA at 0.8774, they remain shy of remaining in charge unless they reclaim the psychological 0.9000 figure, followed by the 200-DMA at 0.9039. Once those areas are cleared, the next test would be the May 31 high at 0.9147.
Conversely, if the USD/CHF drops below the September 14 daily low of 0.8914, that would exacerbate a challenge of the 0.8900 mark. A breach of the latter, and the pair could aim toward the current week’s low of 0.8893, followed by the 50-DMA at 0.8774.
USD/CHF Price Action – Daily chart
USD/CHF Technical Levels
|Today last price||0.8962|
|Today Daily Change||0.0006|
|Today Daily Change %||0.07|
|Today daily open||0.8956|
|Previous Daily High||0.8971|
|Previous Daily Low||0.8915|
|Previous Weekly High||0.8945|
|Previous Weekly Low||0.8833|
|Previous Monthly High||0.8876|
|Previous Monthly Low||0.869|
|Daily Fibonacci 38.2%||0.8949|
|Daily Fibonacci 61.8%||0.8936|
|Daily Pivot Point S1||0.8924|
|Daily Pivot Point S2||0.8891|
|Daily Pivot Point S3||0.8868|
|Daily Pivot Point R1||0.898|
|Daily Pivot Point R2||0.9003|
|Daily Pivot Point R3||0.9036|
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