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USD/CHF Price Analysis: Remains firm around 0.9210 after hitting a high shy of 0.9240

  • USD/CHF is downward biased but subject to a mean reversion move towards 0.9300.
  • Solid resistance lies at 0.9235/40, with the confluence of technical indicators rejecting the USD/CHF rally.
  • USD/CHF Price Analysis: Bulls are hopeful if the pair remains above 0.9158.

After slumping on Wednesday, the USD/CHF stages a comeback recovering the 0.9200 psychological level, eyeing a break above a confluence of technical indicators. In addition, a falling wedge continued to develop ahead of the following week’s busy economic calendar in the United States (US). At the time of typing, the USD/CHF exchanges hands at 0.9218, above its opening price by 0.22%.

USD/CHF Price Analysis: Technical outlook

Short term, the USD/CHF is upward biased, though it was rejected at the confluence of a downward slope trendline and the 20-day Exponential Moving Average (EMA) around the 0.9235/40 area. Nevertheless, bulls remain hopeful for higher prices as long as the  USD/CHF stays above the January 26 daily low at 0.9158.

Therefore, the USD/CHF first resistance would be the abovementioned confluence of the 20-day EMA and a downslope trendline around 0.9240. Once cleared, the USD/CHF pair might rally toward January 24 daily high at 0.9279, followed by the January 12 ad 0.9360.

As an alternate scenario, the USD/CHF first demand zone would be the January 26 daily low of 0.9158. Once broken, then the pair might dip to the YTD low at 0.9085.

USD/CHF Key Technical Levels

USD/CHF

Overview
Today last price0.9214
Today Daily Change0.0012
Today Daily Change %0.13
Today daily open0.9202
 
Trends
Daily SMA200.9247
Daily SMA500.9325
Daily SMA1000.9573
Daily SMA2000.9634
 
Levels
Previous Daily High0.9226
Previous Daily Low0.9158
Previous Weekly High0.9288
Previous Weekly Low0.9085
Previous Monthly High0.9471
Previous Monthly Low0.9201
Daily Fibonacci 38.2%0.92
Daily Fibonacci 61.8%0.9184
Daily Pivot Point S10.9165
Daily Pivot Point S20.9128
Daily Pivot Point S30.9098
Daily Pivot Point R10.9232
Daily Pivot Point R20.9262
Daily Pivot Point R30.9299

Author

Christian Borjon Valencia

Christian Borjon began his career as a retail trader in 2010, mainly focused on technical analysis and strategies around it. He started as a swing trader, as he used to work in another industry unrelated to the financial markets.

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