USD/CHF Price Analysis: Extended its fall after battling the 0.9300 figure

USD/CHF retraced some of the last week’s gains after struggling at the 50-day EMA.
USD/CHF Price Analysis: It is still neutral-to-downward biased, but it could increase once 0.9300 is reclaimed.

Christian Borjon Valencia FXStreet

The USD/CHF is subdued amidst a thin liquidity trading session sponsored by a holiday in the United States (US), with traders enjoying a long weekend in the observation of President’s Day. At the time of writing, the USD/CHF is trading at 0.9230, below its opening price by 0.12%.

From a daily chart perspective, the USD/CHF remains neutral to downward biased. On Friday, the USD/CHF reached a new multi-week high but reversed its course and finished with losses of 0.12%. The bearish continuation extended today, though it was capped by the 20-day Exponential Moving Average (EMA) at 0.9223.

For a bearish resumption, the USD/CHF must clear the 20-day EMA, followed by the psychological 0.9200 mark. A breach of the latter will expose the February 9 swing low at 0.9160, followed by the February 14 daily low of 0.9135, ahead of the 0.9100 psychological level.

Conversely, the USD/CHF first resistance would be the 50-day EMA At 0.9279, followed by the 0.9300 figure. A decisive break and the buyers could send the USD/CHF aiming towards the 100-day EMA At 0.9388, ahead of the 0.9400 mark.

USD/CHF Daily chart

USD/CHF Key technical levels

USD/CHF

Overview
Today last price	0.9232
Today Daily Change	-0.0013
Today Daily Change %	-0.14
Today daily open	0.9245

Trends
Daily SMA20	0.9213
Daily SMA50	0.925
Daily SMA100	0.9493
Daily SMA200	0.9586

Levels
Previous Daily High	0.9332
Previous Daily Low	0.9243
Previous Weekly High	0.9332
Previous Weekly Low	0.9138
Previous Monthly High	0.941
Previous Monthly Low	0.9085
Daily Fibonacci 38.2%	0.9277
Daily Fibonacci 61.8%	0.9298
Daily Pivot Point S1	0.9215
Daily Pivot Point S2	0.9184
Daily Pivot Point S3	0.9126
Daily Pivot Point R1	0.9304
Daily Pivot Point R2	0.9363
Daily Pivot Point R3	0.9393

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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