USD/CHF Price Analysis: Mildly bid around 0.9200 but bears keep controls

USD/CHF struggles to keep the first daily gains in four around three-week low.
Short-term falling channel, 100-SMA challenge bulls amid sluggish Momentum.
Fresh declines eye 0.9140-45 support confluence, further weakness will have a bumpy road.

Anil Panchal FXStreet

USD/CHF fades bounce off three-week low to revisit 0.9200 amid early Wednesday. The Swiss currency (CHF) pair drops during the last three days before bouncing off 0.9157 support on Tuesday.

In doing so, the quote portrays a weekly descending channel to tease the sellers. Adding to the bearish bias is the sluggish Momentum line that doesn’t support the latest rebound, as well as sustained trading below the 100-SMA.

That said, the quote presently aims for a convergence of the stated channel and an ascending trend line from early November, close to 0.9145-40.

However, the pair’s further weakness will have multiple hurdles around 0.9100, a break of which will direct USD/CHF sellers to attack the last month’s low near 0.9088.

Meanwhile, buyers may aim for the 100-SMA and channel’s resistance line, near 0.9255-60, during additional upside.

In a case where the USD/CHF prices cross the 0.9260 hurdle, a fortnight-old horizontal line near 0.9325 will challenge the bulls before directing them to November’s peak of 0.9373.

USD/CHF: Four-hour chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	0.9204
Today Daily Change	0.0024
Today Daily Change %	0.26%
Today daily open	0.918

Trends
Daily SMA20	0.9231
Daily SMA50	0.9233
Daily SMA100	0.9199
Daily SMA200	0.918

Levels
Previous Daily High	0.9267
Previous Daily Low	0.9158
Previous Weekly High	0.9374
Previous Weekly Low	0.9218
Previous Monthly High	0.9374
Previous Monthly Low	0.9088
Daily Fibonacci 38.2%	0.9199
Daily Fibonacci 61.8%	0.9225
Daily Pivot Point S1	0.9136
Daily Pivot Point S2	0.9092
Daily Pivot Point S3	0.9027
Daily Pivot Point R1	0.9245
Daily Pivot Point R2	0.9311
Daily Pivot Point R3	0.9355

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.

USD/JPY eyes August swing low, near 155.20 ahead of US NFP

USD/JPY retests the August monthly swing low during the Asian session on Friday as a more hawkish repricing of BoJ rate-hike bets and a suspected intervention continue to underpin the Japanese Yen. Meanwhile, the US Dollar is seen consolidating the previous day's heavy losses amid soft US bond yields, further weighing on the currency pair as traders keenly await the US NFP report.

AUD/USD consolidates above 0.7200; US NFP awaited

AUD/USD holds steady above 0.7200, near its highest level since mid-May, as bulls await the US NFP report for more cues on the Fed's policy path before placing fresh bets. Meanwhile, the recent decline in US bond yields keeps the US Dollar depressed near its lowest level in over a week and acts as a tailwind for the Aussie amid the RBA's hawkish tilt.

Gold tumbles as blockbuster US NFP lift US Dollar, Treasury yields

Gold (XAU/USD) falls sharply on Friday, snapping a two-day recovery after the US Nonfarm Payrolls (NFP) report surprised strongly to the upside. The metal briefly climbed above $4,500 on Thursday, gaining nearly 2%, but has since erased a large part of that advance.

Crypto’s $638 million buyback boom may not be as bullish as it looks

Decentralized Finance (DeFi) protocols reportedly spent $638 million to buy back their native tokens in August, up 17% from a year earlier. On the surface, the buyback trend suggests the cryptocurrency industry is maturing fast, adopting one of Wall Street’s oldest tools to bolster valuations and distribute revenue. The headline becomes less impressive once the number is opened up.

Why hawkish Bank of Japan expectations aren't enough to sustain the Japanese Yen rally

The Japanese Yen (JPY) experienced a sudden burst higher after falling back below the 160.00 psychological mark against the US Dollar (USD) earlier this week amid a more hawkish repricing of Bank of Japan (BoJ) rate hike expectations.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.