USD/CHF Price Analysis: Depressed below 0.9200 on Thursday’s bearish Doji

USD/CHF stays pressured following a bearish candlestick formation of the previous day.
Sustained trading below 50-day SMA, downbeat MACD also backs sellers to eye 200-day SMA.

Anil Panchal FXStreet

USD/CHF holds lower ground near 0.9167, down 0.03% intraday, ahead of Friday’s European session. In doing so, the major currency pair respects Thursday’s bearish Doji, as well as seller-supportive MACD conditions.

Also backing the USD/CHF bears is the pair’s sustained trading below 50-day SMA, which in turn highlights another attempt to revisit the 200-day SMA level of 0.9089.

During the fall, the weekly bottom surrounding 0.9130 and the 0.9100 round-figure may offer intermediate halts.

Meanwhile, an upside break of the 0.9200 threshold will defy the bearish Doji and could direct the USD/CHF prices toward a 50-day SMA level of 0.9220. It’s worth mentioning that the previous month’s lows add strength to the 0.9220 hurdle.

In a case where the quote rises beyond 0.9220, USD/CHF bulls may not refrain to target mid-March tops near 0.9320 wherein the 0.9250 level can act as a buffer during the rise.

USD/CHF daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price	0.9166
Today Daily Change	-4 pips
Today Daily Change %	-0.04%
Today daily open	0.917

Trends
Daily SMA20	0.9285
Daily SMA50	0.9216
Daily SMA100	0.9052
Daily SMA200	0.9091

Levels
Previous Daily High	0.9192
Previous Daily Low	0.9144
Previous Weekly High	0.9268
Previous Weekly Low	0.9179
Previous Monthly High	0.9459
Previous Monthly Low	0.9071
Daily Fibonacci 38.2%	0.9162
Daily Fibonacci 61.8%	0.9173
Daily Pivot Point S1	0.9145
Daily Pivot Point S2	0.9121
Daily Pivot Point S3	0.9098
Daily Pivot Point R1	0.9193
Daily Pivot Point R2	0.9216
Daily Pivot Point R3	0.9241

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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