USD/CHF Price Analysis: Drops to fresh 13-day low under 0.9100

USD/CHF teases weekly support line, stays pressured near intraday low.
Bearish MACD, absence of oversold RSI favor sellers.

Anil Panchal FXStreet

USD/CHF declines to the lowest since November 09 during early Thursday. However, a falling trend line from November 17 restricts the pair’s further downside around the intraday bottom of 0.9070.

It should, however, be noted that bearish MACD keeps the USD/CHF sellers hopeful of breaking the immediate support line, which in turn highlights October lows near 0.9030 for the pair traders.

If at all the RSI refrains from oversold territory around 0.9030, the 0.9000 threshold and monthly low near 0.8980 may return to the charts.

Alternatively, the 0.9100 round-figure and a two-week-old falling trend line, at 0.9135 now, can cap the USD/CHF recovery moves.

Also acting as the strong upside hurdle is a monthly falling trend line around 0.9170 and the 0.9200 psychological mark.

USD/CHF four-hour chart

Trend: Bearish

Additional important levels

Overview
Today last price	0.907
Today Daily Change	-10 pips
Today Daily Change %	-0.115%
Today daily open	0.908

Trends
Daily SMA20	0.9122
Daily SMA50	0.9137
Daily SMA100	0.9155
Daily SMA200	0.9388

Levels
Previous Daily High	0.9139
Previous Daily Low	0.9078
Previous Weekly High	0.9152
Previous Weekly Low	0.9088
Previous Monthly High	0.9219
Previous Monthly Low	0.9031
Daily Fibonacci 38.2%	0.9101
Daily Fibonacci 61.8%	0.9116
Daily Pivot Point S1	0.9059
Daily Pivot Point S2	0.9038
Daily Pivot Point S3	0.8998
Daily Pivot Point R1	0.912
Daily Pivot Point R2	0.916
Daily Pivot Point R3	0.918

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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