USD/CHF Price Analysis: Awaits direction after consolidating around the 0.8720/30 region

USD/CHF pulls back from weekly highs, shedding 0.43% after US data points to continued disinflation and a cooling labor market.
Key upside barriers for the pair include the 0.8782 level, the psychological 0.8800, and the 50-day EMA at 0.8815.
A potential downturn could see the pair targeting the significant 0.8700 level, possibly extending losses to the YTD low at 0.8554 if that support breaks.

Christian Borjon Valencia FXStreet

USD/CHF retraces from weekly highs but remains trading sideways within a narrow 40-pip range after a tranche of US economic data indicates the disinflationary process continues while the labor market flashes signs of easing. Hence, the USD/CHF drops 0.43% and changes hands at around 0.8733.

USD/CHF Price Analysis: Technical outlook

Even though the USD/CHF registers losses, it remains neutrally biased, slightly tilted upwards, as the pair remains trading off the year’s lows of 0.8554. As of writing, after printing a daily low of 0.8689, it reversed its course, with buyers reclaiming the 20-day Exponential Moving Average (EMA) at 0.8737 after testing the last week’s low of 0.8699.

If USD/CHF resumes its uptrend above 0.8782 and conquers 0.8800, that could exacerbate a test of the 50-day EMA at 0.8815. A breach of the latter would expose the 0.8900 mark, followed by the 100-day EMA at 0.8926.

Conversely, a daily close below 0.8700 and the USD/CHF could test the year-to-date (YTD) low of 0.8554.

USD/CHF Price Action – Daily chart

USD/CHF

Overview
Today last price	0.8734
Today Daily Change	-0.0038
Today Daily Change %	-0.43
Today daily open	0.8772

Trends
Daily SMA20	0.868
Daily SMA50	0.8854
Daily SMA100	0.893
Daily SMA200	0.9136

Levels
Previous Daily High	0.8783
Previous Daily Low	0.8732
Previous Weekly High	0.8806
Previous Weekly Low	0.8665
Previous Monthly High	0.9005
Previous Monthly Low	0.8552
Daily Fibonacci 38.2%	0.8763
Daily Fibonacci 61.8%	0.8751
Daily Pivot Point S1	0.8742
Daily Pivot Point S2	0.8711
Daily Pivot Point S3	0.8691
Daily Pivot Point R1	0.8793
Daily Pivot Point R2	0.8813
Daily Pivot Point R3	0.8844

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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