• USD/CHF extends its weekly gains, up to 1%, and erases last week’s losses.
  • The USD/CHF aims higher and could test the 20-day EMA; otherwise, a pullback could extend towards 0.9400.

The USD/CHF climbs for the second straight day, widening the gap between the 200-day EMA and the exchange rate, courtesy of broad US dollar strength, underpinned by high US T-bond yields in the mid-North American session. At the time of writing, the USD/CHF is trading at 0.9501, up by 0.55% on the day.

USD/CHF Price Analysis: Technical outlook

The USD/CHF is about to test the top-trendline of a descending channel. It’s worth noting that albeit a successive series of lower highs/lows confirm the pair is in a downtrend, sellers’ failure to capture the 200-day EMA at 0.9431 exposed the pair to buying pressure. Therefore, the USD/CHF edged higher, from around multi-month lows below 0.9400, towards current price levels.

If USD/CHF buyers want to reclaim control, they would need a break above the top trendline of the channel, which also intersects with the 20-day EMA at 0.9549. Once cleared, that would pave the way towards the 100-day EMA at 0.9631, followed by the 50-day EMA at 0.9651.

On the other hand, if the major tumbles and closes below 0.9500, that could pave the way for further losses. Hence, the USD/CHF first support would be the August 16 low at 0.8445, followed by the 200-day EMA at 0.9431 and the monthly low at 0.9370.


USD/CHF Daily chart

USD/CHF Key Technical Levels

USD/CHF

Overview
Today last price 0.95
Today Daily Change 0.0035
Today Daily Change % 0.37
Today daily open 0.9465
 
Trends
Daily SMA20 0.9565
Daily SMA50 0.9662
Daily SMA100 0.9634
Daily SMA200 0.9434
 
Levels
Previous Daily High 0.9471
Previous Daily Low 0.9409
Previous Weekly High 0.9635
Previous Weekly Low 0.9371
Previous Monthly High 0.9886
Previous Monthly Low 0.9502
Daily Fibonacci 38.2% 0.9448
Daily Fibonacci 61.8% 0.9433
Daily Pivot Point S1 0.9425
Daily Pivot Point S2 0.9386
Daily Pivot Point S3 0.9363
Daily Pivot Point R1 0.9488
Daily Pivot Point R2 0.9511
Daily Pivot Point R3 0.955

 

 

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