USD/CHF Price Analysis: Firm at around 0.8950, eyeing EMA resistance level as bulls eye 0.9000

USD/CHF hovers near 0.8950 and eyes 20-day and 50-day EMA resistance at 0.8988 and 0.9014.
RSI nearing 50 midlines, suggesting potential bullish movement.
Bearish continuation requires a break below 0.8900, revealing a YTD low of 0.8820.

Christian Borjon Valencia FXStreet

USD/CHF trims some of its last Friday’s gains thought remains firm nearby 0.8950s after bouncing from daily lows reached early in the European session at around 0.8911. At the time of writing, the USD/CHF exchanges hands at 0.8952, down 0.17%, after failing to crack under the 0.8900 mark.

USD/CHF Price Analysis: Technical outlook

From a daily chart perspective, the USD/CHF remains neutral to downward biased but at the brisk of surpassing resistance levels like the 20 and 50-day Exponential Moving Averages (EMAs) at 0.8988 and 0.9014, respectively. Of note, the Relative Strength Index (RSI) indicator is closing into the 50-midline, which, once crossed, would trigger a buy signal. The three-day Rate of Change (RoC) depicts that buyers moved into the 0.8900 figure, as it prints its biggest gain, snapping three days of negative readings.

Therefore, the USD/CHF firsT resistance would be the 20-day EMA, followed by the 0.9000 figure. Break above will expose the 50-day EMA, followed by the 100-day EMA at 0.9090, ahead of 0.9100. On the flip side, the USD/CHF must break below 0.8900 for a bearish continuation, exposing the year-to-date (YTD) low of 0.8820, ahead of 0.8800.

USD/CHF Price Action – Daily chart

USD/CHF

Overview
Today last price	0.8956
Today Daily Change	-0.0018
Today Daily Change %	-0.20
Today daily open	0.8974

Trends
Daily SMA20	0.9021
Daily SMA50	0.898
Daily SMA100	0.9098
Daily SMA200	0.9323

Levels
Previous Daily High	0.9013
Previous Daily Low	0.8944
Previous Weekly High	0.9013
Previous Weekly Low	0.8907
Previous Monthly High	0.9148
Previous Monthly Low	0.882
Daily Fibonacci 38.2%	0.8987
Daily Fibonacci 61.8%	0.8971
Daily Pivot Point S1	0.8941
Daily Pivot Point S2	0.8908
Daily Pivot Point S3	0.8872
Daily Pivot Point R1	0.901
Daily Pivot Point R2	0.9046
Daily Pivot Point R3	0.9078

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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