USD/CHF Price Analysis: Looks to monthly support around 0.9200

USD/CHF eases from intraday high, snaps two-day downtrend.
Sustained trading below key SMAs, bearish MACD signals favor sellers.
61.8% Fibonacci retracement, short-term rising trend line test further downside.

Anil Panchal FXStreet

USD/CHF drops back to 0.9200 after consolidating the two-day losses during early Thursday in Asia. The Swiss currency (CHF) pair remains below the key moving averages amid the bearish MACD signals, which in turn backs bearish bias.

However, a clear downside break of the 61.8% Fibonacci retracement (Fibo.) of November’s upside and a four-week-long rising trend line, respectively around 0.9197 and 0.9185, challenge the pair sellers.

In a case where the USD/CHF bears dominate below 0.9185, multiple swings near 0.9150 may probe the quote’s additional declines ahead of the last month’s low of 0.9088.

On the contrary, 200-SMA and 50% Fibo. around 0.9215 and 0.9230 in that order, guards immediate recovery moves of the pair.

Following that, the 100-SMA level of 0.9260 and a monthly high of 0.9275 will lure the USD/CHF buyers.

USD/CHF: Four-hour chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price	0.9206
Today Daily Change	0.0006
Today Daily Change %	0.07%
Today daily open	0.92

Trends
Daily SMA20	0.9255
Daily SMA50	0.9226
Daily SMA100	0.9201
Daily SMA200	0.9183

Levels
Previous Daily High	0.9254
Previous Daily Low	0.9196
Previous Weekly High	0.9273
Previous Weekly Low	0.9158
Previous Monthly High	0.9374
Previous Monthly Low	0.9088
Daily Fibonacci 38.2%	0.9218
Daily Fibonacci 61.8%	0.9232
Daily Pivot Point S1	0.9179
Daily Pivot Point S2	0.9158
Daily Pivot Point S3	0.912
Daily Pivot Point R1	0.9238
Daily Pivot Point R2	0.9275
Daily Pivot Point R3	0.9296

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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