USD/CHF Price Analysis: Renews three-week low under 0.9200 on breaking 200-DMA

USD/CHF remains pressured around multi-day low during three-day downtrend.
Bearish MACD signals, 0.9215 key support break favors sellers.
Bulls need validation from 0.9255, bears eye four-month-old ascending trend line.

Anil Panchal FXStreet

USD/CHF stays depressed around a three-week low, down 0.08% on a day near 0.9170 during early Friday.

The Swiss currency (CHF) pair’s latest loss could be linked to the clear downside break of the 200-DMA. Also adding to the bearish bias are the downbeat MACD signals and sustained trading below 0.9215 support-turned-resistance confluence including 100-DMA and an upward sloping trend line from November 01.

That said, the USD/CHF bears are on the way to a four-month-old support line, near 0.9130. Though, any further weakness will be challenged by the 0.9100 threshold and November’s low of 0.9088.

Meanwhile, corrective pullback remains elusive below the 200-DMA level of 0.9178, a break of which will recall the 0.9200 round figure on the chart.

It’s worth noting that USD/CHF sellers keep the reins until witnessing a clear upside break of the 0.9215 resistance confluence stated above.

Even so, multiple levels marked since late October offer additional filters to the north around 0.9255.

USD/CHF: Daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price	0.9171
Today Daily Change	-0.0008
Today Daily Change %	-0.09%
Today daily open	0.9179

Trends
Daily SMA20	0.9218
Daily SMA50	0.9213
Daily SMA100	0.9214
Daily SMA200	0.9179

Levels
Previous Daily High	0.9219
Previous Daily Low	0.9176
Previous Weekly High	0.9295
Previous Weekly Low	0.9175
Previous Monthly High	0.9374
Previous Monthly Low	0.9088
Daily Fibonacci 38.2%	0.9192
Daily Fibonacci 61.8%	0.9203
Daily Pivot Point S1	0.9163
Daily Pivot Point S2	0.9148
Daily Pivot Point S3	0.912
Daily Pivot Point R1	0.9207
Daily Pivot Point R2	0.9235
Daily Pivot Point R3	0.9251

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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