• The USD/CHF retreats from 0.9886 in a volatile session, despite positive US data.
  • The Swiss franc has gained almost 1% in the last two trading days.
  • USD/CHF Price Analysis: Sellers are eyeing 0.9700, which would open the door for buyers to lift the pair towards 0.9800.

The USD/CHF dives after reaching a weekly high on Thursday, around 0.9900, and plunges towards the 0.9770s region on upbeat US data, which pared expectations of a Federal Reserve larger-than-expected rate hike, which was cheered by investors, as reflected by global equities rising.

The USD/CHF is trading at 0.9775, near the daily lows, after hitting a 0.9840 daily high, just above the daily pivot, which once broken, paved the way for a free fall below 0.9800, and further extending towards the S1 pivot area around 0.9773.

USD/CHF Price Analysis: Technical outlook

USD/CHF Daily chart

The USD/CHF daily chart shows that it is still favoring longs. The ongoing pullback from weekly highs near 0.9900 could be capped around the 50-day moving average (DMA) at 0.9735, though the Relative Strength Index (RSI) at 56.03 keeps pushing lower, which means that sellers might be eyeing the 50% Fibonacci retracement at around 0.9690, looking forward for an RSI’s uptick, that could give buyers a go, to re-enter USD/CHF longs.

If that scenario plays out, USD/CHF’s first resistance would be 0.9700, followed by 0.9735 and 0.9800. Otherwise, the USD/CHF pullback could continue its fall towards the 61.8% Fibonacci level at 0.9644, followed by the figure at 0.9600.

USD/CHF Key Technical Levels

USD/CHF

Overview
Today last price 0.9778
Today Daily Change -0.0061
Today Daily Change % -0.62
Today daily open 0.9839
 
Trends
Daily SMA20 0.9673
Daily SMA50 0.9742
Daily SMA100 0.957
Daily SMA200 0.9391
 
Levels
Previous Daily High 0.9886
Previous Daily Low 0.9779
Previous Weekly High 0.9798
Previous Weekly Low 0.9562
Previous Monthly High 1.005
Previous Monthly Low 0.9495
Daily Fibonacci 38.2% 0.9845
Daily Fibonacci 61.8% 0.982
Daily Pivot Point S1 0.9783
Daily Pivot Point S2 0.9728
Daily Pivot Point S3 0.9676
Daily Pivot Point R1 0.989
Daily Pivot Point R2 0.9941
Daily Pivot Point R3 0.9997

 

 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

USD/JPY pops and drops on BoJ's expected hold

USD/JPY pops and drops on BoJ's expected hold

USD/JPY  reverses a knee-jerk spike to 142.80 and returns to the red below 142.50 after the Bank of Japan announced on Friday that it maintained the short-term rate target in the range of 0.15%-0.25%. The decision aligned with the market expectations. Governor Ueda's presser eyed. 

USD/JPY News
AUD/USD bears attack 0.6800 amid PBOC's status-quo, cautious mood

AUD/USD bears attack 0.6800 amid PBOC's status-quo, cautious mood

AUD/USD attacks 0.6800 in Friday's Asian trading, extending its gradual retreat after the PBOC unexpectedly left mortgage lending rates unchanged in September. A cautious market mood also adds to the weight on the Aussie. Fedspeak eyed. 

AUD/USD News
Gold consolidates near record high, bullish potential seems intact

Gold consolidates near record high, bullish potential seems intact

Gold price regained positive traction on Thursday and rallied back closer to the all-time peak touched the previous day in reaction to the Federal Reserve's decision to start the policy easing cycle with an oversized rate cut.

Gold News
Ethereum rallies over 6% following decision to split Pectra upgrade into two phases

Ethereum rallies over 6% following decision to split Pectra upgrade into two phases

In its Consensus Layer Call on Thursday, Ethereum developers decided to split the upcoming Pectra upgrade into two batches. The decision follows concerns about potential risks in shipping the previously approved series of Ethereum improvement proposals.

Read more
Bank of Japan set to keep rates on hold after July’s hike shocked markets

Bank of Japan set to keep rates on hold after July’s hike shocked markets

The Bank of Japan is expected to keep its short-term interest rate target between 0.15% and 0.25% on Friday, following the conclusion of its two-day monetary policy review. The decision is set to be announced during the early Asian session. 

Read more
Moneta Markets review 2024: All you need to know

Moneta Markets review 2024: All you need to know

VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.

Read More

Forex MAJORS

Cryptocurrencies

Signatures