USD/CHF Price Analysis: Rejected at 0.9280s, falls beneath the 20-DMA and 0.9200

USD/CHF dips below 0.9200 as the US Dollar weakens and tumbles below the 20-day EMA.
USD/CHF Price Analysis: Downward biased and might test the YTD low if it slides below 0.9100.

Christian Borjon Valencia FXStreet

The USD/CHF stumbles sharply after hitting a two-week new high at 0.9288 and drops beneath 0.9200, to fresh two-day lows around 0.9174, before settling at around the current exchange rate. The USD/CHF changes hands at 0.9173, below its opening price by 0.75%.

USD/CHF Price Analysis: Technical outlook

During Tuesday’s session, the USD/CHF was quickly rejected, slightly above the January 24 daily high of 0.9279, with bears stepping in aggressively, sending the USD/CHF sliding firstly towards the 0.9200 figure, followed by a dip towards the 0.9180 area.

On its way downward, the USD/CHF pair cleared the 20-day Exponential Moving Average (EMA) at 0.9230 and also was seen back below downslope resistance trendlines, drawn since November and January. Therefore, the USD/CHF is downward biased in the short term and might test crucial demand levels.

The USD/CHF first support would be the January 26 high at 0.9158. The break below will expose the 0.9100 psychological level, followed by the YTD low at 0.9085.

As an alternate scenario, the USD/CHF reclaiming the 0.9200 figure, that would open the door for further gains. The next ceiling level would be the 20-day EMA at 0.9230, followed by the January 31 high at 0.9288

USD/CHF Key Technical Levels

USD/CHF

Overview
Today last price	0.918
Today Daily Change	-0.0073
Today Daily Change %	-0.79
Today daily open	0.9253

Trends
Daily SMA20	0.9245
Daily SMA50	0.9312
Daily SMA100	0.9567
Daily SMA200	0.963

Levels
Previous Daily High	0.9257
Previous Daily Low	0.9182
Previous Weekly High	0.928
Previous Weekly Low	0.9158
Previous Monthly High	0.9471
Previous Monthly Low	0.9201
Daily Fibonacci 38.2%	0.9228
Daily Fibonacci 61.8%	0.9211
Daily Pivot Point S1	0.9205
Daily Pivot Point S2	0.9156
Daily Pivot Point S3	0.913
Daily Pivot Point R1	0.9279
Daily Pivot Point R2	0.9305
Daily Pivot Point R3	0.9354

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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