USD/CHF Price Analysis: Extends pullback from key resistance line

  • USD/CHF takes offers, refreshes intraday low following the previous day’s U-turn from six-week-old resistance line.
  • Downward sloping RSI, immediate support line break adds to the bearish impulse.

USD/CHF stands on the slippery ground while refreshing the intraday low to 0.9045, down 0.15% on a day, as European traders prepare for the bell.

The pair took a U-turn from a downward sloping trend line from April-start recently broke a two-day-old support line. This joins the descending RSI line, not oversold, to keep USD/CHF bears hopeful.

While 0.9000 is the closest the short-term sellers can look for, the pair’s further downside depends upon how well it breaks the tops marked during late December and early January close to 0.8910.

Meanwhile, recovery moves need not only break the multi-day-old resistance line near 0.9080 but should also cross the 100-SMA level of 0.9100.

Additionally, the monthly high near 0.9165 acts as an extra filter to the north.

USD/CHF four-hour chart

Trend: Bearish

Additional important levels

Today last price 0.9045
Today Daily Change -13 pips
Today Daily Change % -0.14%
Today daily open 0.9058
Daily SMA20 0.9112
Daily SMA50 0.923
Daily SMA100 0.9084
Daily SMA200 0.9082
Previous Daily High 0.9094
Previous Daily Low 0.9051
Previous Weekly High 0.9165
Previous Weekly Low 0.9004
Previous Monthly High 0.9473
Previous Monthly Low 0.908
Daily Fibonacci 38.2% 0.9067
Daily Fibonacci 61.8% 0.9077
Daily Pivot Point S1 0.9042
Daily Pivot Point S2 0.9025
Daily Pivot Point S3 0.8999
Daily Pivot Point R1 0.9084
Daily Pivot Point R2 0.911
Daily Pivot Point R3 0.9126



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