USD/CHF Price Analysis: Eases from 100-HMA to remain below 0.9100

USD/CHF seesaws around the intraday low of 0.9076, down for the sixth consecutive day.
Normal RSI conditions favor the pullback towards the weekly low.
The 0.9100 threshold adds to the upside barriers.

Anil Panchal FXStreet

USD/CHF drops to 0.9078, down 0.05% on a day, ahead of Wednesday’s European session. The Swiss major recently took a U-turn from 100-HMA amid normal RSI conditions.

As a result, traders can expect further weakness in the USD/CHF prices towards the weekly bottom of 0.9060.

However, 0.9050 and the monthly low near 0.9000 will challenge the bears afterward.

Meanwhile, an upside clearance of a 100-HMA level of 0.9085 needs validation from 0.9100 to aim for the 61.8% Fibonacci retracement of September 08-10 downside, around 9145.

During the USD/CHF pair’s further upside beyond 0.9145, the September 08 low of 0.9156 can question the bulls targeting the monthly top of 0.9200.

USD/CHF hourly chart

Trend: Bearish

Additional important levels

Overview
Today last price	0.9078
Today Daily Change	-3 pips
Today Daily Change %	-0.03%
Today daily open	0.9081

Trends
Daily SMA20	0.9102
Daily SMA50	0.9178
Daily SMA100	0.9385
Daily SMA200	0.9543

Levels
Previous Daily High	0.9089
Previous Daily Low	0.9052
Previous Weekly High	0.92
Previous Weekly Low	0.9049
Previous Monthly High	0.9242
Previous Monthly Low	0.8999
Daily Fibonacci 38.2%	0.9066
Daily Fibonacci 61.8%	0.9075
Daily Pivot Point S1	0.9059
Daily Pivot Point S2	0.9036
Daily Pivot Point S3	0.9021
Daily Pivot Point R1	0.9096
Daily Pivot Point R2	0.9112
Daily Pivot Point R3	0.9134

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.

EUR/USD trims losses, back to 1.1830

EUR/USD manages to regain some composure, leaving behind part of the earlier losses and reclaim the 1.1830 region on Tuesday. In the meantime, the US Dollar’s upside impulse loses some momentum while investors remain cautious ahead of upcoming US data releases, including the FOMC Minutes.

GBP/USD bounces off lows, retargets 1.3550

After bottoming out just below the 1.3500 yardstick, GBP/USD now gathers some fresh bids and advances to the 1.3530-1.3540 band in the latter part of Tuesday’s session. Cable’s recovery comes as the Greenback surrenders part of its advance, although it keeps the bullish bias well in place for the day.

Gold remains offered below $5,000

Gold stays on the defensive on Tuesday, receding to the sub-$5,000 region per troy ounce on the back of the persistent move higher in the Greenback. The precious metal’s decline is also underpinned by the modest uptick in US Treasury yields across the spectrum.

Crypto Today: Bitcoin, Ethereum, XRP upside looks limited amid deteriorating retail demand

The cryptocurrency market extends weakness with major coins including Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) trading in sideways price action at the time of writing on Tuesday.

UK jobs market weakens, bolstering rate cut hopes

In the UK, the latest jobs report made for difficult reading. Nonetheless, this represents yet another reminder for the Bank of England that they need to act swiftly given the collapse in inflation expected over the coming months.

Ripple slides to $1.45 as downside risks surge

Ripple edges lower at the time of writing on Tuesday, from the daily open of $1.48, as headwinds persist across the crypto market. A short-term support is emerging at $1.45, but a buildup of bearish positions could further weaken the derivatives market and prolong the correction.