• The USD/CHF trims some of Thursday’s losses, up some 0.47%.
  • A downbeat market sentiment boosts the US Dollar prospects, the CHF weakened.
  • USD/CHF Technical Outlook: Upward bias, though a break above 0.9300 would open the door for 0.9400.

The greenback recovers some of Thursday’s losses against the Swiss franc, climbs above the 100, and the 50-day moving averages (DMAs) trading at 0.9227 during the New York session at the time of writing. Financial markets risk-aversion favors the greenback safe-haven status, to the detriment of the Swiss franc.

In the bond market, US T-bond yields extend their losses, with the 10-year Treasury yield falling four basis points, sitting at 1.382%. However, the greenback has offset the downfall, with the US Dollar Index, which tracks the buck’s performance against a basket of six rivals, advances 0.35%, up to 96.39, near December 16 daily tops.

USD/CHF Price Forecast: Technical outlook

From the technical perspective, as shown by the daily moving averages (DMAs) located below the spot price, the USD/CHF pair has an upward bias. In fact, in the overnight session, the USD/CHF dipped as low as the 200-DMA at 0.9174, then rebounded near the December 16 tops around 0.9232.

To the upside, the first resistance would be the December 16 high at 0.9233. The breach of the latter would allow USD bulls to resume the uptrend towards the 50% Fibonacci retracement at 0.9265. A clear break above that level would send the pair rallying towards the confluence of a downslope trendline and the 61.8% Fibonacci retracement around the 0.9280-0.9300 area.

On the other hand, the USD/CHF first support would be the 50-DMA at 0.9213, followed by the 100-DMA at 0.9204. A break beneath the latter would open the door for a retest of the 200-DMA at 0.9174.

USD/CHF

Overview
Today last price 0.9233
Today Daily Change 0.0043
Today Daily Change % 0.47
Today daily open 0.919
 
Trends
Daily SMA20 0.9247
Daily SMA50 0.9218
Daily SMA100 0.9206
Daily SMA200 0.9181
 
Levels
Previous Daily High 0.9256
Previous Daily Low 0.919
Previous Weekly High 0.9275
Previous Weekly Low 0.917
Previous Monthly High 0.9374
Previous Monthly Low 0.9088
Daily Fibonacci 38.2% 0.9215
Daily Fibonacci 61.8% 0.9231
Daily Pivot Point S1 0.9168
Daily Pivot Point S2 0.9145
Daily Pivot Point S3 0.9101
Daily Pivot Point R1 0.9235
Daily Pivot Point R2 0.9279
Daily Pivot Point R3 0.9302

 

 

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