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USD/CHF Price Analysis: Falls to a 5-day new low, though reclaims 0.9200

  • USD/CHF remains below the 20-day EMA, unable to reclaim 0.9300.
  • Although the pair is bearish, solid USD/CHF support to be found around 0.9150.
  • If the USD/CHF climbs above the 20-day EMA, that will expose the 0.93 figure, followed by the 50-day EMA.

After failing to clear 0.9360 during the last week, the USD/CHF is extending its downtrend to four consecutive days, staying just below the 20-day Exponential Moving Average (EMA), which sits at around 0.9282, acting as a solid resistance. Hence, the USD/CHF is trading at 0.9213, below its opening price by 0.44%.

USD/CHF Price Analysis: Technical outlook

The USD/CHF is neutral-to-downward biased and continues to trade beneath the confluence of a three-month-old downslope trendline and the 20-day EMA. Although the bias suggests further downside, since December 2022, the USD/CHF bottomed around the February 2022 low of 0.9150 and remains unable to crack it. Therefore, bears need to clear the latter, to open the door towards 0.9100 first and then the 0.9000 figure.

As an alternate scenario, if the USD/CHF pair reclaims the 20-day EMA, that could send the pair climbing to 0.9300, followed by the January 12 high of 0.9360, ahead of the 0.9400 mark.

USD/CHF Key Technical Levels

USD/CHF

Overview
Today last price0.9219
Today Daily Change-0.0044
Today Daily Change %-0.48
Today daily open0.9263
 
Trends
Daily SMA200.9284
Daily SMA500.9385
Daily SMA1000.962
Daily SMA2000.9643
 
Levels
Previous Daily High0.9288
Previous Daily Low0.9219
Previous Weekly High0.9363
Previous Weekly Low0.9167
Previous Monthly High0.9471
Previous Monthly Low0.9201
Daily Fibonacci 38.2%0.9262
Daily Fibonacci 61.8%0.9245
Daily Pivot Point S10.9225
Daily Pivot Point S20.9187
Daily Pivot Point S30.9155
Daily Pivot Point R10.9295
Daily Pivot Point R20.9326
Daily Pivot Point R30.9364

Author

Christian Borjon Valencia

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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