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

Today last price 0.912
Today Daily Change -8 pips
Today Daily Change % -0.09%
Today daily open 0.9128
Daily SMA20 0.9122
Daily SMA50 0.9137
Daily SMA100 0.9161
Daily SMA200 0.9395
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



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