USD/CHF Price Analysis: Eyes the bottom of the 0.9220-60 range amid geopolitical jitters

USD/CHF slides some 0.26% during the North American session.
The pair remains range-bound at the 0.9220-60 region.
USD/CHF Technical Outlook: Consolidated amid the lack of a catalyst to break the range.

Christian Borjon Valencia FXStreet

The USD/CHF retreats from 0.9260 top of the range-bound 0.9220-60, approaching the bottom of the range, courtesy of risk-off market mood. At the time of writing, the USD/CHF is trading at 0.9221.

On Wednesday's overnight session for North American traders, the USD/CHF consolidated around the 0.9240-60 area, followed by a break of the 0.9240 intraday support, which accelerated the downward move towards the bottom of the range mentioned above.

USD/CHF Price Analysis: Technical outlook

The USD/CHF is neutral biased, despite the location of the daily moving averages (DMAs) that lies below the exchange rate. As witnessed by the candlesticks, intense selling pressure lies around the 0.9250-0.9300 area, as portrayed by the last eight candles in the daily chart, which show long wicks above the real bodies.

Therefore, the USD/CHF is neutral-downwards. The first support would be the 100-DMA at 0.9211. Breach of the latter would expose the 50-DMA at 0.9200, followed by the 200-DMA at 0.9171.

Upwards, the first resistance would be 0.9250-65 area. A decisive break would expose December 16, 2021, a daily high at 0.9294, followed by January 31 daily high at 0.9343.

USD/CHF

Overview
Today last price	0.9221
Today Daily Change	-0.0034
Today Daily Change %	-0.37
Today daily open	0.9255

Trends
Daily SMA20	0.9227
Daily SMA50	0.9205
Daily SMA100	0.9217
Daily SMA200	0.9175

Levels
Previous Daily High	0.9274
Previous Daily Low	0.9226
Previous Weekly High	0.9297
Previous Weekly Low	0.9222
Previous Monthly High	0.9343
Previous Monthly Low	0.9092
Daily Fibonacci 38.2%	0.9245
Daily Fibonacci 61.8%	0.9256
Daily Pivot Point S1	0.923
Daily Pivot Point S2	0.9204
Daily Pivot Point S3	0.9182
Daily Pivot Point R1	0.9277
Daily Pivot Point R2	0.93
Daily Pivot Point R3	0.9325

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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