USD/CHF Price Analysis: Ignores oversold RSI, previous week’s Doji to battle 0.9100

USD/CHF remains on the backfoot with the latest declines taking place from 0.9105.
A falling trend line from September 2018, oversold RSI conditions question the sellers.
Bulls will wait for a clear break above 0.9200.

Anil Panchal FXStreet

USD/CHF stays depressed at 0.9097 ahead of the European session on Friday. The pair dropped during the previous two days while defying the oversold RSI conditions on the weekly chart, needless to mention about the previous week’s Doji candlestick.

Even if the sellers are on the driver’s seat, a multi-week falling trend line near 0.9075, followed by the monthly low around 0.9050, will question the pair’s further downside.

Additionally, the 0.9000 threshold adds to the list of the supports that hold the key to the south-run targeting July 2014 low near 0.8850.

If at all the pair stays beyond 0.9050 on a weekly basis, buyers may think of an entry targeting 0.9200. However, a strong upside signal can only be gained if the pair manages to stay beyond the same.

USD/CHF weekly chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	0.9098
Today Daily Change	0.0000
Today Daily Change %	0.00%
Today daily open	0.9098

Trends
Daily SMA20	0.9187
Daily SMA50	0.9357
Daily SMA100	0.952
Daily SMA200	0.9637

Levels
Previous Daily High	0.9123
Previous Daily Low	0.9082
Previous Weekly High	0.9242
Previous Weekly Low	0.9051
Previous Monthly High	0.9494
Previous Monthly Low	0.9056
Daily Fibonacci 38.2%	0.9098
Daily Fibonacci 61.8%	0.9107
Daily Pivot Point S1	0.9079
Daily Pivot Point S2	0.906
Daily Pivot Point S3	0.9039
Daily Pivot Point R1	0.9119
Daily Pivot Point R2	0.9141
Daily Pivot Point R3	0.916

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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