- USD/CHF locks modest gains in the early European session.
- Descending trend line acts as defense for bulls.
- Neutral MACD suggests impending downward movement.
The USD/CHF pair failed to extend the previous day’s gain in the early European session. The pair lost momentum after making an intraday high at 0.9145.
At the time of writing, USD/CHF is trading at 0.9135, up 0.08% on the day.
USD/CHF hourly chart
On the hourly chart, the pair has been looking to extend gains beyond the descending trend line from Wednesday’s high of 0.9164. However, the formation of Doji candles near the downward slope line indicates that upside momentum is receding. If prices sustain below the intraday lows near the 0.9130 area, then it would intensify the selling pressure.
The Moving Average Convergence Divergence (MACD) indicator is placed at the midline with bearish crossover. Moving down, prices would test the 0.9120 and 0.9110 horizontal support zone. Next bears would keep their eyes on 0.9080 (April 30).
On the flip side, if prices break above the downward sloping line, then they will navigate toward the 0.9150 and the 0.9170 horizontal resistance. Finally, market participants would then look out for highs of 0.9215(April 19).
USD/CHF additional levels
|Today last price||0.9134|
|Today Daily Change||0.0004|
|Today Daily Change %||0.04|
|Today daily open||0.913|
|Previous Daily High||0.9165|
|Previous Daily Low||0.9122|
|Previous Weekly High||0.9182|
|Previous Weekly Low||0.908|
|Previous Monthly High||0.9473|
|Previous Monthly Low||0.908|
|Daily Fibonacci 38.2%||0.9138|
|Daily Fibonacci 61.8%||0.9148|
|Daily Pivot Point S1||0.9113|
|Daily Pivot Point S2||0.9096|
|Daily Pivot Point S3||0.907|
|Daily Pivot Point R1||0.9156|
|Daily Pivot Point R2||0.9182|
|Daily Pivot Point R3||0.9199|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.