USD/CHF Price Analysis: Retests December lows around 0.9210s, as traders ignored a doji

USD/CHF bypasses a doji and falls beneath the 0.9300 figure.
The USD/CHF price action suggests the pair might form a triple bottom, but oscillators point downwards.
A fall beneath 0.9200 could exacerbate a test of the 2022 lows.

Christian Borjon Valencia FXStreet

The USD/CHF disregarded a doji formed on Wednesday and extended its losses below the 0.9300 figure, as the USD/CHF is about to finish the year almost unchanged. At the time of writing, the USD/CHF is trading at 0.9231, down by 0.58%.

USD/CHF Price Analysis: Technical outlook

The daily chart shows the USD/CHF hit a daily low of 0.9210 for the third time in December, though so far clung to the 0.9200 figure. However, the Relative Strength Index (RSI) and the Rate of Change (RoC) suggest that sellers gather momentum. So a fall beneath the 0.9200 figure could pave the way towards the 2022 yearly low of 0.9091.

Otherwise, the USD/CHF might be forming a triple bottom pattern, but firstly it would need to clear the 20-day Exponential Moving Average (EMA) at 0.9335 and December’s high of 0.9347 to confirm the chart pattern. Once achieved, the USD/CHF target would be the 50-day EMA at 0.9477, followed by 0.9500.

USD/CHF Key Technical Levels

USD/CHF

Overview
Today last price	0.9232
Today Daily Change	-0.0060
Today Daily Change %	-0.65
Today daily open	0.9292

Trends
Daily SMA20	0.9332
Daily SMA50	0.9568
Daily SMA100	0.9658
Daily SMA200	0.9644

Levels
Previous Daily High	0.9307
Previous Daily Low	0.9245
Previous Weekly High	0.9348
Previous Weekly Low	0.9227
Previous Monthly High	1.0148
Previous Monthly Low	0.9357
Daily Fibonacci 38.2%	0.9269
Daily Fibonacci 61.8%	0.9284
Daily Pivot Point S1	0.9256
Daily Pivot Point S2	0.922
Daily Pivot Point S3	0.9194
Daily Pivot Point R1	0.9318
Daily Pivot Point R2	0.9344
Daily Pivot Point R3	0.938

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.

AUD/USD sticks to neutral bias above 0.7100 amid cautious markets

AUD/USD holds steady above 0.7100 in the Asian session on Monday as the US Dollar stalls its modest pullback from the highest level since late July amid persistent geopolitical uncertainties. The PBOC status quo on Loan Prime Rates also weighs on the Aussie. However, bets on another RBA rate hike continue to underpin the Australian Dollar ahead of the Trump-Xi Summit.

USD/JPY eases below 157.00 amid looming intervention risks

USD/JPY is easing back below 157.00 in Asia on Monday, undermined by modest Japanese Yen strength amid looming intervention risks after Friday's BoJ rate check. A Japanese holiday also keeps traders on edge amid escalating geopolitical tensions between Russia and Ukraine and in the Middle East. As a result, the US Dollar pauses its pullback, limiting the pair's downside.

Gold meets resistance around $4,400

Gold kicks in the new trading with on the back foot, keeping its trade near $4,350 per troy ounce. The precious metal’s correction comes on the back of the firmer US Dollar and espite declining US Treasury yields across the curve.

Bitcoin hits $85,000 for the first time in eight months

Bitcoin price reclaims $85,000 on Monday, advancing last week’s 5% recovery toward an eight-month high. The recovery in King Crypto aligns with renewed institutional demand, with Exchange Traded Funds (ETFs) recording $433 million in inflows on Friday.

The week ahead: Fuel prices in focus as we lead up to key eco releases

Financial markets are in a strange position as we move to the final weeks of Q3, uncertainty and volatility continue to grip markets, but the oil price is falling; and European and US stocks are poised to open higher later on Monday. Market stresses are concentrated in sovereign bonds, and European and US yields had another scare late on Friday, and moved higher.

BoJ Recap: Not as hawkish as expected

The Bank of Japan (BoJ) raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks.