USD/CHF Price Analysis: Bears keep the reins around multi-month low

USD/CHF wavers around the lowest levels since January 2015.
Three-day-old resistance line, 200-HMA restrict immediate upside.
Highs marked during early July 2014 offer nearby support below 0.8982.

Anil Panchal FXStreet

USD/CHF stays mildly offered near 0.8996 during early Monday. The pair dropped to the lowest since January 27, 2015, on Friday before the oversold RSI conditions trigger its pullback moves from 0.8982.

However, a downward sloping trend line from last Wednesday, currently around 0.9005, challenges the intraday buyers.

While a clear break of 0.9005 can trigger a corrective recovery towards November 04 low near 0.9090, the 200-HMA level of 0.9116 will act as the key upside hurdle afterward.

On the contrary, fresh selling can wait until the quote drops below 0.8982, which in-turn will target July 07, 2014, high close to 0.8960 as the following support.

Should the USD/CHF bears keep dominating the sentiment past-0.8960, July 2014 bottom and January 20, 2015 high, respectively around 0.8855 and 0.8840/35, will become their favorites.

USD/CHF hourly chart

Trend: Bearish

Additional important levels

Overview
Today last price	0.8998
Today Daily Change	-2 pips
Today Daily Change %	-0.02%
Today daily open	0.9

Trends
Daily SMA20	0.9105
Daily SMA50	0.9133
Daily SMA100	0.9198
Daily SMA200	0.943

Levels
Previous Daily High	0.9057
Previous Daily Low	0.8982
Previous Weekly High	0.9208
Previous Weekly Low	0.8982
Previous Monthly High	0.9219
Previous Monthly Low	0.9031
Daily Fibonacci 38.2%	0.9011
Daily Fibonacci 61.8%	0.9028
Daily Pivot Point S1	0.8969
Daily Pivot Point S2	0.8939
Daily Pivot Point S3	0.8895
Daily Pivot Point R1	0.9044
Daily Pivot Point R2	0.9087
Daily Pivot Point R3	0.9118

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

USD/JPY eyes August swing low, near 155.20 ahead of US NFP

USD/JPY retests the August monthly swing low during the Asian session on Friday as a more hawkish repricing of BoJ rate-hike bets and a suspected intervention continue to underpin the Japanese Yen. Meanwhile, the US Dollar is seen consolidating the previous day's heavy losses amid soft US bond yields, further weighing on the currency pair as traders keenly await the US NFP report.

AUD/USD consolidates above 0.7200; US NFP awaited

AUD/USD holds steady above 0.7200, near its highest level since mid-May, as bulls await the US NFP report for more cues on the Fed's policy path before placing fresh bets. Meanwhile, the recent decline in US bond yields keeps the US Dollar depressed near its lowest level in over a week and acts as a tailwind for the Aussie amid the RBA's hawkish tilt.

Gold tumbles as blockbuster US NFP lift US Dollar, Treasury yields

Gold (XAU/USD) falls sharply on Friday, snapping a two-day recovery after the US Nonfarm Payrolls (NFP) report surprised strongly to the upside. The metal briefly climbed above $4,500 on Thursday, gaining nearly 2%, but has since erased a large part of that advance.

Crypto’s $638 million buyback boom may not be as bullish as it looks

Decentralized Finance (DeFi) protocols reportedly spent $638 million to buy back their native tokens in August, up 17% from a year earlier. On the surface, the buyback trend suggests the cryptocurrency industry is maturing fast, adopting one of Wall Street’s oldest tools to bolster valuations and distribute revenue. The headline becomes less impressive once the number is opened up.

Why hawkish Bank of Japan expectations aren't enough to sustain the Japanese Yen rally

The Japanese Yen (JPY) experienced a sudden burst higher after falling back below the 160.00 psychological mark against the US Dollar (USD) earlier this week amid a more hawkish repricing of Bank of Japan (BoJ) rate hike expectations.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.