USD/CHF Price Analysis: Drops and invalidates falling wedge, seesaws around 0.9200

Overall, US Dollar weakness and improvement in risk appetite weighed on the USD/CHF pair.
A USD/CHF daily close below 0.9200 could exacerbate a fall toward 2022 yearly lows.
Otherwise, the USD/CHF could bounce at around YTD lows and climb above 0.9300.

Christian Borjon Valencia FXStreet

The USD/CHF drops back beneath a falling wedge top-trendline and extends its losses for two consecutive trading days, down by 0.73% as the US Dollar (USD) falls. At the time of writing, the USD/CHF is trading at 0.9202.

USD/CHF Price Analysis: Technical outlook

The USD/CHF daily chart portrays the resumption of the major’s downtrend. Failure to cling to gains around 0.9280s exacerbated a downfall toward its daily low of 0.9167, though buyers stepped around the daily lows, lifting the USD/CHF to current exchange rates. The USD/CHF stepped inside the falling wedge, a signal of bearishness. However, it would be needed a USD/CHF daily close below 0.9200 to pave the way for further downside. Otherwise, buyers could step in and lift the USD/CHF pair.

USD/CHF key support levels would be 0.9167. A breach of the latter would expose the February 21 daily low of 0.9150, followed by the 0.9100 mark, ahead of the 2022 year low of 0.9091. On the flip side, the USD/CHF first resistance would be 0.9200, which, once cleared, could pave the way towards today’s high of 0.9292, ahead of 0.9300.

USD/CHF Key Technical Levels

USD/CHF

Overview
Today last price	0.9199
Today Daily Change	-0.0078
Today Daily Change %	-0.84
Today daily open	0.9277

Trends
Daily SMA20	0.9297
Daily SMA50	0.9474
Daily SMA100	0.9644
Daily SMA200	0.9645

Levels
Previous Daily High	0.941
Previous Daily Low	0.927
Previous Weekly High	0.941
Previous Weekly Low	0.9223
Previous Monthly High	0.9471
Previous Monthly Low	0.9201
Daily Fibonacci 38.2%	0.9324
Daily Fibonacci 61.8%	0.9356
Daily Pivot Point S1	0.9228
Daily Pivot Point S2	0.918
Daily Pivot Point S3	0.9089
Daily Pivot Point R1	0.9367
Daily Pivot Point R2	0.9458
Daily Pivot Point R3	0.9506

Author

Christian Borjon Valencia

FXStreet

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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