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USD/CHF Price Analysis: Consolidates around 200-DMA as bears moved in

  • USD/CHF holds near 0.8939, minimal losses despite weaker US producer inflation data.
  • Technical outlook: Pair remains neutral to upward biased, consolidating around the 200-DMA at 0.8896.
  • Key levels: Support at 0.8800 and 0.8729; resistance at June 11 high of 0.8993 and 50-DMA at 0.9069.

The USD/CHF was subdued on Thursday, yet minimal losses of 0.06% were printed following the release of the softer US producer inflation report. The Greenback’s losses were capped by the Federal Reserve’s decision to hold rates and project one rate cut, as the disinflation process had stalled. The pair trades at 0.8939 at the time of writing.

USD/CHF Price Analysis: Technical outlook

The daily chart portrays the pair as neutral to upward biased, yet it remains consolidated at around the 200-day moving average (DMA) at 0.8896.

Momentum favors sellers, but they take a respite as they push the USD/CHF below the 200-DMA. Once cleared, the next support would be the 0.8800 figure, followed by the March 8 cycle low of 0.8729.

Conversely. If USD/CHF pushes back above the June 11 high of 0.8993, that would exacerbate a rally past the 0.9000 figure. The next resistance level would be the 50-DMA at 0.9069.

USD/CHF Price Action – Daily Chart

USD/CHF

Overview
Today last price0.894
Today Daily Change-0.0004
Today Daily Change %-0.04
Today daily open0.8944
 
Trends
Daily SMA200.904
Daily SMA500.9074
Daily SMA1000.8948
Daily SMA2000.8894
 
Levels
Previous Daily High0.8984
Previous Daily Low0.8893
Previous Weekly High0.9036
Previous Weekly Low0.8881
Previous Monthly High0.9225
Previous Monthly Low0.8988
Daily Fibonacci 38.2%0.8928
Daily Fibonacci 61.8%0.8949
Daily Pivot Point S10.8897
Daily Pivot Point S20.885
Daily Pivot Point S30.8807
Daily Pivot Point R10.8988
Daily Pivot Point R20.9031
Daily Pivot Point R30.9078

Author

Christian Borjon Valencia

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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