USD/CHF Price Analysis: 10-day SMA recalls the bears ahead of Swiss Q3 GDP


  • USD/CHF stays below 10-day SMA for 11 days in a row, trims Monday’s gains.
  • Bearish MACD, key upside hurdle challenge the bulls.
  • Swiss Q3 GDP is expected to reverse -7.3% previous with +5.9% QoQ growth.

USD/CHF stays depressed near 0.9070, down 0.20% intraday, while heading into Tuesday’s European session. In doing so, the pair marked reversal from the 10-day SMA ahead of the key Q3 GDP data from Switzerland, up for publishing at .6:45 GMT.

Considering the pair’s inability to cross 10-day SMA, currently around 0.9090, coupled with upbeat expectations from the Swiss GDP, the USD/CHF prices are likely to remain pressured.

During the downward trajectory, 0.9040 and Monday’s low near 0.9020 can offer intermediate halts before directing the USD/CHF bears to November’s bottom surrounding 0.8980.

Alternatively, a falling trend line from November 11, at 0.9117 now, will precede the 100-day SMA level of 0.9141, to add a few more hurdles to the north.

It should, however, be noted that the USD/CHF buyers’ ability to cross 0.9141 enables them to challenge the previous month’s peak close to 0.9210.

USD/CHF daily chart

Trend: Bearish

Additional important levels

Overview
Today last price 0.9071
Today Daily Change -17 pips
Today Daily Change % -0.19%
Today daily open 0.9088
 
Trends
Daily SMA20 0.9106
Daily SMA50 0.9134
Daily SMA100 0.9144
Daily SMA200 0.9377
 
Levels
Previous Daily High 0.9089
Previous Daily Low 0.9019
Previous Weekly High 0.9148
Previous Weekly Low 0.9041
Previous Monthly High 0.9208
Previous Monthly Low 0.8982
Daily Fibonacci 38.2% 0.9063
Daily Fibonacci 61.8% 0.9046
Daily Pivot Point S1 0.9042
Daily Pivot Point S2 0.8996
Daily Pivot Point S3 0.8972
Daily Pivot Point R1 0.9112
Daily Pivot Point R2 0.9136
Daily Pivot Point R3 0.9182

 

 

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