- USD/CHF remains pressured near intraday low, prints the first daily loss in three.
- Multiple supports stand tall to challenge sellers even as looming bear cross on MACD signal further downside.
- 200-HMA, two-week-old descending trend line guard immediate upside.
USD/CHF holds lower ground near the intraday bottom as bears struggle to retake control, after a two-day leave, during early Monday. That said, the Swiss Franc (CHF) pair prints mild losses near 0.9320 by the press time.
The quote’s latest weakness could be linked to the U-turn from a fortnight-long descending resistance line, as well as the 200-HMA. Also keeping the USD/CHF bears hopeful is the looming bear cross on the MACD indicator.
However, the downside moves remain unconvincing to the pair bears unless the quote stays beyond the previous resistance line from November 30, close to the 0.9300 threshold by the press time.
Also challenging the USD/CHF bulls is an upward-sloping trend line from the last Wednesday, around 0.9280 at the latest.
In a case where the quote remains bearish below 0.9280, the odds of witnessing a downturn toward the monthly low near 0.9215 can’t be ruled out.
On the flip side, buyers need to keep the reins past 0.9350 to mark their dominance. In doing so, the quote should stay past the aforementioned immediate resistance line and the 200-HMA.
Following that, a run-up towards the 0.9400 threshold and then to the monthly high 0.9470 can’t be ruled out.
USD/CHF: Hourly chart
Trend: Further weakness expected
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.
Recommended content
Editors’ Picks
AUD/USD keeps range below 0.6300 despite renewed China optimism
AUD/USD stays sidelined below the 0.6300 mark in the Asian session on Thursday amid uncertainty over US President Donald Trump's tariff plans. The Aussie shrugs off a risk-rally in Chinese stocks on fresh support measures as the US Dollar holds ground ahead of top-tier US data releases.
USD/JPY bounces to near 155.50 amid upbeat mood
USD/JPY holds the bounces to near 155.50 in the Asian session on Thursday, helped by an upbeat mood. The pair reverses an early dip-led by the better-than-expected Japanese Trade Balance data. Further upside could be capped amid prospects for an imminent BoJ rate hike on Friday.
Gold buyers pause but refuse to give up yet
Gold price consolidates its three-day bullish momentum early Thursday, having reached three-month highs of $2,763 on Wednesday. Gold buyers take a breather as attention turns toward US fundamentals, with the weekly Jobless Claims on tap.
Crypto Today: BTC, Solana, XRP mount $3.5T support as Ross Ulbricht and Tornado Cash rulings spark optimism
The global crypto market capitalization fell 1.7% to hit $3.5 trillion on Wednesday. Bitcoin, Solana and XRP held firm above their respective critical support levels at $103,000, $3 and $250.
Netflix posts record quarter, as Trump talks tariffs on China
There has been a positive tone to risk this week, as the market digests Trump 2.0. However, Trump is not the only show in town. Earnings reports are also a key driver of stock indices, and the news is good.
Trusted Broker Reviews for Smarter Trading
VERIFIED Discover in-depth reviews of reliable brokers. Compare features like spreads, leverage, and platforms. Find the perfect fit for your trading style, from CFDs to Forex pairs like EUR/USD and Gold.