USD/CHF Price Analysis: Battles at the 100-DMA around 0.9380s

USD/CHF is trapped within the 0.9340-0.9425 region for the fourth straight day.
USD/CHF Price Analysis: Negative divergence in the 4-hour chart opened the door for further losses.

Christian Borjon Valencia FXStreet

The USD/CHF is trimming some of Tuesday’s gains, dropping slightly above the 100-day Exponential Moving Average (EMA), which sits at 0.9384, after hitting a daily high of 0.9428. At the time of writing, the USD/CHF exchanges hands at 0.9387, below its opening price by 0.36%.

USD/CHF Price action

Since the start of the week, the USD/CHF remains range-bound within the 0.9340-0.9425 area. The Relative Strength Index (RSI) portrays buyers in charge, but its slope turned south, suggesting pressure is waning.

The USD/CHF 4-hour chart paints a different picture. As price action edged up, the RSI reached lower peaks. That means a negative divergence has formed, which usually anticipates a reversal. However, the USD/CHF would face solid support levels, as the EMAs are resting below the spot price.

Therefore, the USD/CHF first support would be the 20-EMA at 0.9374. A breach of the latter will expose the weekly low of 0.9341, followed by the 50-EMA at 0.9335, ahead of testing the 0.9300 mark. Once cleared, the next stop for USD/CHF sellers would be the 100-EMA at 0.9295, closely followed by the 200-EMA at 0.9278.

USD/CHF 4-hour chart

USD/CHF Key technical levels

USD/CHF

Overview
Today last price	0.9387
Today Daily Change	-0.0031
Today Daily Change %	-0.33
Today daily open	0.9418

Trends
Daily SMA20	0.9257
Daily SMA50	0.9255
Daily SMA100	0.9453
Daily SMA200	0.957

Levels
Previous Daily High	0.942
Previous Daily Low	0.9342
Previous Weekly High	0.9409
Previous Weekly Low	0.9221
Previous Monthly High	0.9429
Previous Monthly Low	0.9059
Daily Fibonacci 38.2%	0.939
Daily Fibonacci 61.8%	0.9371
Daily Pivot Point S1	0.9366
Daily Pivot Point S2	0.9315
Daily Pivot Point S3	0.9288
Daily Pivot Point R1	0.9445
Daily Pivot Point R2	0.9471
Daily Pivot Point R3	0.9523

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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