USD/CHF Price Analysis: Lingers below the 200-DMA as sellers target 0.8900

USD/CHF experiences a retreat, trading at 0.9014, marking a 0.76% decline, after failing to sustain a surge above the 0.9088 level.
A double top formation and a subsequent V-shape drop signal potential downside, with the 0.8986 weekly low in sight.
Key support looms at the psychological 0.9000 level, followed by the 50-DMA at 0.8938.

Christian Borjon Valencia FXStreet

The USD/CHF retreats after climbing more than 0.70% on Thursday and oscillates below the 200-day moving average (DMA) as sellers outpaced buyers, as the pair failed to get acceptance above today’s daily high of 0.9088. At the time of writing, the USD/CHF is trading at 0.9014, down 0.76%.

After forming a double top, the USD/CHF dipped toward its current week low of 0.8986, before bouncing off to the 0.9080s region, but buyers' failure to extend its losses triggered a V-shape drop in the pair. If the USD/CHF slides below 0.9000, the current weekly low of 0.8986 would be exposed, followed by the 50-DMA at 0.8938.

Conversely, if USD/CHF buyers hold the exchange rate above the 200-DMA, sitting at 0.9019, that could open the door to test weekly highs of 0.9088, followed by the psychological 0.9100 figure. Once cleared, the next stop would be the October 3 cycle high of 0.9245.

USD/CHF Price Action – Daily chart

USD/CHF Technical Levels

USD/CHF

Overview
Today last price	0.9013
Today Daily Change	-0.0071
Today Daily Change %	-0.78
Today daily open	0.9084

Trends
Daily SMA20	0.9091
Daily SMA50	0.8934
Daily SMA100	0.8907
Daily SMA200	0.9023

Levels
Previous Daily High	0.9088
Previous Daily Low	0.8987
Previous Weekly High	0.9244
Previous Weekly Low	0.9073
Previous Monthly High	0.9225
Previous Monthly Low	0.8795
Daily Fibonacci 38.2%	0.9049
Daily Fibonacci 61.8%	0.9026
Daily Pivot Point S1	0.9018
Daily Pivot Point S2	0.8952
Daily Pivot Point S3	0.8917
Daily Pivot Point R1	0.9119
Daily Pivot Point R2	0.9154
Daily Pivot Point R3	0.922

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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