USD/CHF Price Analysis: Oscillates around the 20-day EMA as the pair tilts upward

USD/CHF halts its downtrend and bounces off a daily low of 0.8940, charting its course near the crucial 20-day EMA at 0.8964.
Market mood tilts as the pair’s technical outlook transitions from a neutral-to-downward bias to neutral, possibly tilting neutral-upward once it reclaims the April 10 daily high of 0.9120.
For bearish persistence, USD/CHF must pierce the 20-day EMA, potentially exposing the May 22 low of 0.8940 and setting the stage for a potential plunge towards 0.8926.

Christian Borjon Valencia FXStreet

USD/CHF stalled its downtrend after piercing the 20-day Exponential Moving Average (EMA) at 0.8964 and reached a daily low of 0.8940, but bounced off and closed Monday’s session nearby last Friday’s low at 0.8993. At the time of writing, USD/CHF is trading at 0.8980, almost flat, as Tuesday’s Asian session begins.

USD/CHF Price Analysis: Technical outlook

From a daily chart perspective, the USD/CHF shifted from neutral-to-downward biased to neutral. In early May, the USD/CHF pair reached a new year-to-date (YTD) low of 0.8820; since then, USD/CHF climbed 1.80%, registering on its way up, successive series of new highs-lows, but shy of turning the pair neutral-to-upward biased.

If USD/CHF reclaims the April 10 daily high of 0.9120, that could shift the bias to neutral-upwards, and it might open the door for a rally above the 100-day EMA At 0.9136 before reaching the April 3 high at 0.9196. Upside risks for the USD/CHF lie above 0.9200, with the 200-day EMA at 0.9271 as the only resistance to changing the pair’s bias upwards.

The USD/CHF must fall below the 20-day EMA at 0.8964 for a bearish continuation. A breach of the latter will expose the May 22 low of 0.8940 before clearing the path for the pair towards June 9, 2021, a low of 0.8926, ahead of the 0.8900 figure.

USD/CHF Price Action – Daily chart

USD/CHF

Overview
Today last price	0.8981
Today Daily Change	-0.0013
Today Daily Change %	-0.14
Today daily open	0.8994

Trends
Daily SMA20	0.8933
Daily SMA50	0.9034
Daily SMA100	0.9151
Daily SMA200	0.9403

Levels
Previous Daily High	0.9059
Previous Daily Low	0.8975
Previous Weekly High	0.9063
Previous Weekly Low	0.892
Previous Monthly High	0.9198
Previous Monthly Low	0.8852
Daily Fibonacci 38.2%	0.9007
Daily Fibonacci 61.8%	0.9027
Daily Pivot Point S1	0.896
Daily Pivot Point S2	0.8925
Daily Pivot Point S3	0.8876
Daily Pivot Point R1	0.9044
Daily Pivot Point R2	0.9093
Daily Pivot Point R3	0.9128

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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