USD/CHF Price Analysis: Price consolidates in a downward channel near 0.9070


  • USD/CHF pauses the previous two day’s decline on Friday.
  • Bulls take support near the lower trend line of the descending channel.
  • Momentum oscillator tilts in favor of the bearish momentum.

USD/CHF edges higher on Friday in the European trading hour. The pair hovers in a very close trading range with positive bias.

At the time of writing, USD/CHF is trading at 0.9070, up 0.09 % for the day.

USD/CHF daily chart

On the daily chart, the USD/CHF pair has been trading in a broader trading channel of 0.9100 and 0.9270.

If price breaks the session’s high, it could test the upside target at the 0.9100 and the 0.9150 horizontal resistance level.

A daily close above the 20-day Simple Moving Average (SMA) at 0.9160 would bring 0.9200 back in the picture.

The Moving Average Convergence Divergence (MACD) trades below the midline with a bearish crossover. The reading suggests that there is room for further downside to the horizontal 0.9050 support level.

A break of 0.9050 could test the low of June 16 at 0.8977 followed by the 0.8940 horizontal support level.

USD/CHF additional levels

USD/CHF

Overview
Today last price 0.9071
Today Daily Change 0.0009
Today Daily Change % 0.10
Today daily open 0.9062
 
Trends
Daily SMA20 0.9175
Daily SMA50 0.9108
Daily SMA100 0.9155
Daily SMA200 0.9074
 
Levels
Previous Daily High 0.9101
Previous Daily Low 0.9054
Previous Weekly High 0.9233
Previous Weekly Low 0.9155
Previous Monthly High 0.9262
Previous Monthly Low 0.8926
Daily Fibonacci 38.2% 0.9072
Daily Fibonacci 61.8% 0.9083
Daily Pivot Point S1 0.9044
Daily Pivot Point S2 0.9026
Daily Pivot Point S3 0.8997
Daily Pivot Point R1 0.909
Daily Pivot Point R2 0.9119
Daily Pivot Point R3 0.9137

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD: Bullish hourly divergence, 38.2% ratio eyed

EUR/USD has stalled and is steady in the open. The bears have been in control to this point after breaking back below the 200-hour EMA.

EUR/USD News

GBP/USD: A critical watch on BoE and Fed week

It is a critical week for GBP/USD traders as we have both the BOE and the Fed meetings. GBP/USD is moving sideways in a consolidated market, hugging a bullish 200 EMA channel, albeit pressured by a firm US dollar as investors survey the conditions of the market's risk profile. 

GBP/USD News

Gold refreshes monthly lows near $1,745 on higher USD

Gold prices touch the lowest level in a month and continue with its previous two week’s downside momentum. The biggest single day fall of $30  was observed on Thursday following a  higher-than-expected US Retail sales data.

Gold News

Bitcoin might be safe from a global stock market crisis

BTC’s lack of integration with traditional finance and its inability to be forcefully sold to cover financial losses mean the price might not ‘collapse’ if there is a global stock market meltdown.

Read more

Evergrande: Risk-off tone for APAC, a USD win-win scenario, bad for AUD

The open could be in for a risk-off ride to start the week due to China's embattled developer, Evergrande, being on the brink of default. The potential fallout of Evergrande could have contagion implications that spill outside China’s financial market borders.

Read more

Forex MAJORS

Cryptocurrencies

Signatures