USD/CHF Price Analysis: Extends pullback from 50-day SMA to snap two-day uptrend


  • USD/CHF wavers around intraday low following failures to recover beyond 0.9131.
  • Normal RSI conditions suggest further weakness, two-month-old falling trend line adds to the upside filters.

USD/CHF drops to 0.9120, down 0.08% intraday, during the pre-European session trading on Tuesday. The pair rose to the highest in one week the previous day, before taking a U-turn from 0.9148.

With the normal RSI conditions backing the losses from 50-day SMA, sellers are likely targeting the 0.9100 threshold during further downside.

In a case where the USD/CHF bears dominate past-0.9100, the lows marked in October and the current month’s bottom, respectively around 0.9030 and 0.8980 can return to the charts.

Meanwhile, an upside break beyond the 50-day SMA level of 0.9137 doesn’t guarantee the quote’s run-up as a multi-day-old falling resistance line, currently around 0.9150, challenges the USD/CHF buyers.

Also acting as an additional hurdle to the north is another trend line resistance, from November 02, that presently stay near 0.9172.

USD/CHF daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price 0.912
Today Daily Change -8 pips
Today Daily Change % -0.09%
Today daily open 0.9128
 
Trends
Daily SMA20 0.9122
Daily SMA50 0.9137
Daily SMA100 0.9161
Daily SMA200 0.9395
 
Levels
Previous Daily High 0.9148
Previous Daily Low 0.9076
Previous Weekly High 0.9152
Previous Weekly Low 0.9088
Previous Monthly High 0.9219
Previous Monthly Low 0.9031
Daily Fibonacci 38.2% 0.9121
Daily Fibonacci 61.8% 0.9104
Daily Pivot Point S1 0.9087
Daily Pivot Point S2 0.9046
Daily Pivot Point S3 0.9015
Daily Pivot Point R1 0.9158
Daily Pivot Point R2 0.9189
Daily Pivot Point R3 0.923

 

 

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.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD: Bears hold the grip, critical challenge at 1.2000

The greenback firmed up at the end of the week, closing it with substantial gains against most major rivals. Renewed coronavirus concerns and poor macroeconomic data spurred risk-off. EUR/USD is firmly bearish.

EUR/USD News

GBP/USD: Further restrictions in the UK may hit the pound

The GBP/USD pair trimmed most of its weekly gains on Friday and settled in the 1.3580 price zone, amid risk-off fueling dollar’s demand. UK GDP contracted by less than anticipated in November, Industrial Production plunged.

GBP/USD News

Gold: Further decline toward $1,800 remains on the cards

Gold failed to stage a convincing rebound this week. After losing more than 2% in the previous week, the XAU/USD pair extended its slide on Monday and touched its lowest level since early December at $1,817. 

Gold news

Darkest fefore dawn

The upcoming economic news is likely to be dreadful, and if it is not dreadful, it will be mostly ignored. This includes the release of the preliminary January PMI figures at the end of the week. Japan is extending its national emergency to another five prefectures, which collectively account for over half of the nation's GDP.

Read more

DXY breaks above key downtrend, eyes move above 91.00

USD has been strongly supported on what has shaped up to be a very much risk off final trading day of the week. Most G10/USD pairs have seen significant weakness, aside from CHF/USD and JPY/USD, given that the two currencies are also considered “safe havens”.

US Dollar Index News

Forex MAJORS

Cryptocurrencies

Signatures