USD/CHF Price Analysis: Recovers ground but shy of reclaiming 0.9000

USD/CHF rebounds, trading at 0.8941, showing consolidation around the 0.8900 level.
The pair needs to surpass 0.8949 (61.8% Fibonacci Retracement) to reach the 0.9000 mark.
A drop below 0.8900 could expose the year-to-date low at 0.8819.

Christian Borjon Valencia FXStreet

USD/CHF rebounds at around weekly lows, though it remains below the 0.9000 figure, due to a risk-off impulse that bolstered the US Dollar (USD), which is set to finish the week with losses of 1.18%, per the US Dollar Index (DXY). The USD/CHF is trading at 0.8941 after hitting a daily low of 0.8901.

USD/CHF Price Analysis: Technical outlook

The USD/CHF depicts the pair as downward biased, though set to consolidate nearby the 0.8900 figure. During the session, the USD/CHF dropped from around 61.8% Fibonacci Retracement (FR) toward the 78.6% FR level but failed to surpass 0.8900, which would have exacerbated additional losses and a YTD low test of 0.8819.

With the USD/CHF rebounding toward the 61.8% FR at 0.8949, buyers must conquer the latter to lift rates toward the 0.9000 psychological level. In that outcome, the USD/CHF next resistance would be the 50% FR at 0.8983, followed by the 0.9000 mark.

Conversely, the path of least resistance, according to oscillators like the Relative Strength Index (RSI) and the Rate of Change (RoC), If the USD/CHF drops below 0.8900 and beneath the 78.6% FR, would expose the YTD low at 0.8819.

USD/CHF Price Action – Daily chart

USD/CHF

Overview
Today last price	0.894
Today Daily Change	0.0021
Today Daily Change %	0.24
Today daily open	0.8919

Trends
Daily SMA20	0.9042
Daily SMA50	0.8985
Daily SMA100	0.9112
Daily SMA200	0.9343

Levels
Previous Daily High	0.9056
Previous Daily Low	0.8907
Previous Weekly High	0.912
Previous Weekly Low	0.8984
Previous Monthly High	0.9148
Previous Monthly Low	0.882
Daily Fibonacci 38.2%	0.8964
Daily Fibonacci 61.8%	0.8999
Daily Pivot Point S1	0.8865
Daily Pivot Point S2	0.8812
Daily Pivot Point S3	0.8716
Daily Pivot Point R1	0.9014
Daily Pivot Point R2	0.911
Daily Pivot Point R3	0.9163

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

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