USD/CHF Price Analysis: Bulls step back from 0.9265 hurdle

USD/CHF refreshes intraday low while consolidating the biggest daily gains in a month.
100-SMA, 38.2% Fibonacci retracement of November’s upside challenge immediate advances.
200-SMA, monthly support line restrict short-term losses, Fibo. levels act as additional filters.

Anil Panchal FXStreet

USD/CHF steps back from the weekly top while teasing intraday lows around 0.9250 during early Tuesday.

The Swiss currency (CHF) pair marked the biggest daily gains since early November the previous day but couldn’t overcome the confluence of 100-SMA and 38.2% Fibonacci retracement (Fibo.) of November 01-24 upside, around 0.9265.

The latest pullback eyes 50% Fibo. near 0.9230 but the 200-SMA level of 0.9210 will challenge the USD/CHF declines afterward.

Should the quote drops past 0.9210, the 61.8% Fibonacci retracement level and an ascending trend line from early November, around 0.9200 and 0.9175 in that order, will be crucial to watch.

Meanwhile, a clear upside break of the 0.9265 hurdle will need validation from the 0.9300 round figure and the November 17 peak of 0.9330 before directing the USD/CHF bulls to the previous month’s top near 0.9375.

Overall, USD/CHF may witness a short-term pullback but key supports to the south will challenge the bears.

USD/CHF: Four-hour chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	0.9253
Today Daily Change	-0.0001
Today Daily Change %	-0.01%
Today daily open	0.9254

Trends
Daily SMA20	0.9248
Daily SMA50	0.923
Daily SMA100	0.9201
Daily SMA200	0.9182

Levels
Previous Daily High	0.9269
Previous Daily Low	0.917
Previous Weekly High	0.9273
Previous Weekly Low	0.9158
Previous Monthly High	0.9374
Previous Monthly Low	0.9088
Daily Fibonacci 38.2%	0.9231
Daily Fibonacci 61.8%	0.9208
Daily Pivot Point S1	0.9193
Daily Pivot Point S2	0.9132
Daily Pivot Point S3	0.9094
Daily Pivot Point R1	0.9292
Daily Pivot Point R2	0.933
Daily Pivot Point R3	0.9391

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.

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