USD/CHF Price Analysis: Keeps bounce off yearly support around mid-0.8900s

  • USD/CHF snaps four-day downtrend but lacks upside momentum.
  • Two-month-old falling trend line, 50-day EMA adds to the upside filters.

USD/CHF consolidates the latest losses around 0.8960, up 0.05% intraday, as European traders brace for Brussels’ bell on Thursday.

In doing so, the quote keeps the previous day’s U-turn from the lowest since February 17 even as the Momentum line struggles in the negative territory.

Hence, the pair’s upside momentum needs further strength, which in turn seeks a clear break of May 10 low of 0.8985 for confirmation.

It should, however, be noted that a downward sloping trend line from mid-April and 50-day EMA, respectively around 0.9030 and 0.9060, preceded by the 0.9000 threshold, also test the USD/CHF bulls.

Meanwhile, USD/CHF sellers have a tough task on hand, to break the 0.8925-15 support zone, before extending the south-run from April.

Also acting as the challenges for the pair bears, below 0.8915, are lows marked during February and late April, around 0.8870 and 0.8840 in that order.

USD/CHF daily chart

Trend: Bearish

Additional important levels

Today last price 0.896
Today Daily Change 0.0004
Today Daily Change % 0.04%
Today daily open 0.8956
Daily SMA20 0.8991
Daily SMA50 0.9104
Daily SMA100 0.9108
Daily SMA200 0.9072
Previous Daily High 0.8972
Previous Daily Low 0.8926
Previous Weekly High 0.9054
Previous Weekly Low 0.8947
Previous Monthly High 0.9165
Previous Monthly Low 0.893
Daily Fibonacci 38.2% 0.8944
Daily Fibonacci 61.8% 0.8954
Daily Pivot Point S1 0.8931
Daily Pivot Point S2 0.8906
Daily Pivot Point S3 0.8885
Daily Pivot Point R1 0.8976
Daily Pivot Point R2 0.8997
Daily Pivot Point R3 0.9022



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

GME stock positioned for another short squeeze

Get the full analysis and chart in our Insights. Upgrade to Premium today    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD loses 1.21 as the dollar extends its gains

EUR/USD has dipped below 1.21, some 70 pips down on the day as the dollar recovers alongside Treasury yields. US Consumer Sentiment beat estimates with 86.4 points. 


GBP/USD retreats amid UK GDP miss, reopening concerns

GBP/USD is hovering around 1.4150, down on the day. UK GDP missed with 2.3% in April and a four-week delay to Britain's reopening is speculated. The greenback is gaining some ground.


XAU/USD drops back below $1900, as US dollar rebounds ahead of data

Gold price has retraced below the $1900 mark once again, having tested Tuesday’s high near $1903. The latest leg down in gold price comes on the back of a tepid bounce staged by the US dollar, as the Treasury yields trim losses across the curve.

Gold News

Ethereum price prepares for a bullish weekend, targeting $3,000

Ethereum price seems prime to revisit $3,000. Although ETH faces resistance at $2,300, the upswing seems imminent. A downswing below $2,000 could invalidate the bullish thesis. 

Read more

Hot Inflation is warming the seat for the June FOMC

Americans are seeing the fastest price increases since their seventh-graders were born as inflation builds into the US economy from the disruptions of the pandemic lockdowns. Core CPI at 3.8% is the steepest gain in 29 years.

Read more