• The USD/CHF is set to finish the week with losses of 2.05%.
  • From a daily chart perspective, the major is downwards, as sellers target March’s 31 low below 0.9200.
  • Despite a positive divergence in the hourly chart, the USD/CHF pierced the 200-DMA, but sellers piling at the 200-DMA dragged the pair lower.

The USD/CHF trims Thursday’s losses yet remains below the 200-day EMA, after hitting a daily high at 0.9450, but retraced towards the current price level, but still above the opening price. At the time of writing, the USD/CHF is trading at 0.9418, up by 0.13%.

Traders’ sentiment is upbeat, with US equities rallying sharply. The greenback recovers some ground, as shown by the US Dollar Index up 0.54%, at 105.662, after an improvement in US consumer sentiment eases the US Federal Reserve pressures.

USDCHF Price Analysis: Technical outlook

From a daily chart perspective, the USD/CHF daily chart illustrates the pair as downward biased, with sellers remaining in control, despite buyers lifting the major towards its daily high. Nevertheless, backed by the Relative Strength Index (RSI) at 35.91, well below the 50 midlines, a dip towards the March 31 swing low at 0.9194 is on the cards.

In the one-hour scale, the USD/CHF portrays a positive divergence with price action aiming lower, while the RSI records successive series of higher lows. Nevertheless, as the RSI already crossed its 50-midline, upwards and lately downwards, the uptrend is in question, but unless sellers break below the August 11 low at 0.9370, the major might remain range-bound.

The USD/CHF first resistance will be the R1 daily pivot at 0.9447. Break above could pave the way towards 0.9500. On the flip side, if the pair breaks below 0.9400, it could dip towards 0.9370.

USD/CHF Hourly chart

USDCHF Key Technical Levels

 

Overview
Today last price 0.9418
Today Daily Change 0.0006
Today Daily Change % 0.06
Today daily open 0.9411
 
Trends
Daily SMA20 0.9598
Daily SMA50 0.9671
Daily SMA100 0.9632
Daily SMA200 0.9431
 
Levels
Previous Daily High 0.9446
Previous Daily Low 0.9371
Previous Weekly High 0.9652
Previous Weekly Low 0.9471
Previous Monthly High 0.9886
Previous Monthly Low 0.9502
Daily Fibonacci 38.2% 0.94
Daily Fibonacci 61.8% 0.9417
Daily Pivot Point S1 0.9372
Daily Pivot Point S2 0.9334
Daily Pivot Point S3 0.9297
Daily Pivot Point R1 0.9448
Daily Pivot Point R2 0.9485
Daily Pivot Point R3 0.9524

 

 

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