USD/CHF Price Analysis: Pullback remains elusive beyond 0.9280


  • 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

Additional important levels

Overview
Today last price 0.9323
Today Daily Change -0.0015
Today Daily Change % -0.16%
Today daily open 0.9338
 
Trends
Daily SMA20 0.9407
Daily SMA50 0.9679
Daily SMA100 0.9678
Daily SMA200 0.9647
 
Levels
Previous Daily High 0.9338
Previous Daily Low 0.9254
Previous Weekly High 0.938
Previous Weekly Low 0.9216
Previous Monthly High 1.0148
Previous Monthly Low 0.9357
Daily Fibonacci 38.2% 0.9306
Daily Fibonacci 61.8% 0.9286
Daily Pivot Point S1 0.9282
Daily Pivot Point S2 0.9225
Daily Pivot Point S3 0.9197
Daily Pivot Point R1 0.9367
Daily Pivot Point R2 0.9395
Daily Pivot Point R3 0.9451

 

 

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