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