USD/CHF Price Analysis: Hovers around 0.9200, in search of fresh direction

USD/CHF rebounds but keeps its recent trading range around 0.9200.
Risk-on mood weighs on the safe-haven Swiss franc this Monday.
The spot is stuck between key averages as RSI holds flat at 50.00.

Dhwani Mehta FXStreet

USD/CHF is attempting a bounce above 0.9200, although remains confined within the recent trading range, as investors look forward to the Fed decision for a fresh direction.

The persisting risk-on market mood, amid easing fears over the Omicron covid variant on the global economic recovery, dampens the sentiment around the safe-haven Swiss franc.

The major draws support from the rebound in the US Treasury yields and the greenback, in absence of any important macro data due for release on Monday.

From a short-term technical perspective, USD/CHF is locked in a tight range between the horizontal 50-Daily Moving Average (DMA) at 0.9221, which guards the topside.

Meanwhile, the 100-DMA at 0.9202 keeps the downside cushioned. A lack of clear directional bias can be attributed to the 14-day Relative Strength Index (RSI) trading flat at the 50.00 level.

The leading indicator is at a coin flip level, with the spot awaiting a range breakout.

USD/CHF: Daily chart

A firm break above 50-DMA could call for a rally towards 21-DMA at 0.9254. Further up, the 0.9300 round figure could be tested.

Meanwhile, the critical 200-DMA at 0.9181 will be the level to beat for USD/CHF bears.

USD/CHF: Additional levels

USD/CHF

Overview
Today last price	0.9220
Today Daily Change	0.0013
Today Daily Change %	0.14
Today daily open	0.9207

Trends
Daily SMA20	0.9256
Daily SMA50	0.9222
Daily SMA100	0.9202
Daily SMA200	0.9182

Levels
Previous Daily High	0.9254
Previous Daily Low	0.9199
Previous Weekly High	0.9275
Previous Weekly Low	0.917
Previous Monthly High	0.9374
Previous Monthly Low	0.9088
Daily Fibonacci 38.2%	0.922
Daily Fibonacci 61.8%	0.9233
Daily Pivot Point S1	0.9186
Daily Pivot Point S2	0.9165
Daily Pivot Point S3	0.9131
Daily Pivot Point R1	0.9241
Daily Pivot Point R2	0.9275
Daily Pivot Point R3	0.9296

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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