USD/CHF Price Analysis: Advances toward the 200-DMA at around 0.9450

USD/CHF advances due to higher US Treasury bond yields and a strong US Dollar.
Bulls are eyeing a test of the 200-day EMA around 0.9452.
USD/CHF Price Analysis: Neutral upwards and will be cemented by a daily close above 0.9400.

Christian Borjon Valencia FXStreet

The USD/CHF staged ar recovery and reached a new year-to-date high at 0.9439 in the mid-North American session. A solid US jobs report triggered a US bond sell-off; consequently, UST bond yields are skyrocketing and are boosting the US Dollar (USD). The USD/CHF is trading at 0.9428, eyeing a break of a range above the February 27 daily high at 0.9429.

USD/CHF Price action

Technically speaking, the USD/CHF is neutral biased, though the break of the psychological 0.9400 could open the door for further gains. Above the current exchange rate sits the 200-day Exponential Moving Average (EMA) at 0.9452, seen as a reference to the bullish/bearishness of an asset. If the USD/CHF breaks the latter, the bias will shift to neutral-upwards. Unless the USD/CHF cracks the next resistance area at 0.9547, the November 30 high, the neutral-upwards tendency would be weak. Once the USD/CHAF pair snaps 0.9547, the major could rally toward the November 21 high at 0.9598.

Readings in oscillators support the bias change, with the Relative Strength Index (RSI) aiming higher and the Rate of Change (RoC). Therefore, the USD/CHF bias is neutral-upward.

On the other hand, failure to hold to gains above 0.9400 would exacerbate the USD/CHF fall to the 100-day EMA at 0.9386 before testing the January 24 high turned support at 0.9360.

USD/CHF Daily chart

USD/CHF Technical levels

USD/CHF

Overview
Today last price	0.9424
Today Daily Change	0.0026
Today Daily Change %	0.28
Today daily open	0.9398

Trends
Daily SMA20	0.9273
Daily SMA50	0.9258
Daily SMA100	0.9447
Daily SMA200	0.9569

Levels
Previous Daily High	0.9428
Previous Daily Low	0.935
Previous Weekly High	0.9409
Previous Weekly Low	0.9221
Previous Monthly High	0.9429
Previous Monthly Low	0.9059
Daily Fibonacci 38.2%	0.938
Daily Fibonacci 61.8%	0.9399
Daily Pivot Point S1	0.9356
Daily Pivot Point S2	0.9314
Daily Pivot Point S3	0.9278
Daily Pivot Point R1	0.9434
Daily Pivot Point R2	0.947
Daily Pivot Point R3	0.9512

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

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