USD/CHF Price Analysis: Buyers face three-month resistance near 0.9200

USD/CHF remains muted in the early Asian session on Thursday.
The pair trades below the 50-day SMA for past one week.
Upside momentum faces pressure in the 0.9220 and 0.9220 zone.

Rekha Chauhan Independent Analyst

USD/CHF tardes with no clear movement on Thursday. After testing 0.9200 in the US session, the pair retreated and closed below 0.9200. At the time of writing, USD/CHF is trading at 0.9181, down 0.01% for the day.

USD/CHF daily chart

On the daily chart, after testing 5-month highs at 0.9368 on September, 30, the pair has been under downward pressure.The pair dropped below the critical 0.9275 support area. Further, the spot trades the 50-day Simple Moving Average (SMA) at 0.9217.

If the price breaks below the intraday low then it would test the 0.9155 horizontal support level. A daily close below the crucial 0.9150 mark could drag the spot toward the September, 3 low at 0.9115. Next, the bears will keep their eyes on the low of August 30 at 0.9101.

Alternatively, the Moving Average Convergence Divergence (MACD) trades below the midline. Any uptick in the MACD could reverse the prevailing trend with the first upside target at the 50-day SMA at 0.9218. A daily close above the 50-day SMA would see a high of October, 20 at 0.9252, followed by the 0.9275 horizontal resistance level.

USD/CHF additional levels

USD/CHF

Overview
Today last price	0.9181
Today Daily Change	-0.0024
Today Daily Change %	-0.26
Today daily open	0.9205

Trends
Daily SMA20	0.9251
Daily SMA50	0.9219
Daily SMA100	0.9183
Daily SMA200	0.9145

Levels
Previous Daily High	0.9226
Previous Daily Low	0.9187
Previous Weekly High	0.9273
Previous Weekly Low	0.9151
Previous Monthly High	0.9368
Previous Monthly Low	0.9116
Daily Fibonacci 38.2%	0.9211
Daily Fibonacci 61.8%	0.9202
Daily Pivot Point S1	0.9186
Daily Pivot Point S2	0.9167
Daily Pivot Point S3	0.9147
Daily Pivot Point R1	0.9225
Daily Pivot Point R2	0.9245
Daily Pivot Point R3	0.9264

Author

Rekha Chauhan

Independent Analyst

Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.

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