USD/CHF Price Analysis: On its way down to 0.9200

USD/CHF extends Monday’s downbeat performance to probe the three-day lows.
Bearish MACD favors sellers targeting seven-week-old horizontal support.
Ascending trend line from September 08 can question the bulls beyond the monthly top.

Anil Panchal FXStreet

USD/CHF seesaws around intraday low, currently down 0.05% on a day near 0.9240, while heading into Tuesday’s European session. The pair took a U-turn from over two months’ high on Friday and fell since then.

With the recent declines taking clues from the MACD histogram, the quote is likely to weaken further towards an area comprising highs marked since August 12, close to 0.9200.

If at all the bears refrain from stepping back from 0.9200, August 20 top near 0.9160 and September 17 peak close to 0.9140 may get the market attention.

Meanwhile, 0.9250 and 0.9280 can offer immediate resistance to the pair ahead of fueling it to the monthly peak of 0.9296.

Though, a three-week-old rising trend line, at 0.9310 now, can question the USD/CHF bulls beyond the 0.9300 mark.

USD/CHF four-hour chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price	0.9239
Today Daily Change	-5 pips
Today Daily Change %	-0.05%
Today daily open	0.9244

Trends
Daily SMA20	0.9147
Daily SMA50	0.9138
Daily SMA100	0.9338
Daily SMA200	0.9514

Levels
Previous Daily High	0.9296
Previous Daily Low	0.9241
Previous Weekly High	0.9296
Previous Weekly Low	0.9087
Previous Monthly High	0.9242
Previous Monthly Low	0.8999
Daily Fibonacci 38.2%	0.9262
Daily Fibonacci 61.8%	0.9275
Daily Pivot Point S1	0.9225
Daily Pivot Point S2	0.9206
Daily Pivot Point S3	0.917
Daily Pivot Point R1	0.9279
Daily Pivot Point R2	0.9315
Daily Pivot Point R3	0.9334

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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