USD/CHF Price Analysis: Retreats beneath 0.9200 on the confluence of technical factors


  • USD/CHF dropped after facing the 20-day EMA and a resistance trendline, extending its losses for two straight days
  • USD/CHF Price Analysis: Short term, a triple bottom could cap the pair’s fall and open the door to test 0.9300.

After facing a resistance trendline, which intersects with the 20-day Exponential Moving Average (EMA), the USD/CHF dropped and extended its losses for two straight days. At the time of writing, the USD/CHF is trading at 0.9133, up 0.08%, as Friday’s Asian session begins.

USD/CHF Price action

The USD/CHF slid from the 0.9200 mark as the US Dollar (USD) weakened across the FX board. Furthermore, the USD/CHF pair is downward biased, though to further cement its bearish case, the major needs to break below the March 13 swing low at 0.9070. Once cleared, the USD/CHF pair would test the YTD lows at 0.9059, which, once cleared, could open the door towards 0.9000. On the flip side, buyers reclaim the 20-day EMA at 0.9215, and the major could test 0.9300.

Short term, the USD/CHF4-hour chart portrays a triple bottom forming, though it is at the brisk of being invalidated if the spot price tumbles and extends below 0.9118. If buyers keep the price above the latter, the chart pattern will remain in play. If the USD/CHF breaks above the daily pivot at 0.9150, the next resistance would be 0.9180, followed by March 30 high at 0.9200. Once cleared, the next reistace would be the 100-EMA at 0.9218, ahead of the 200-EMA at 0.9244.

In an alternate scenario, if the USD/CHF pair dwindles below 0.9118, that would pave the way to test the YTD low at 0.9059.

USD/CHF 4-Hour chart

USD/CHF 4-Hour chart

USD/CHF Technical levels

USD/CHF

Overview
Today last price 0.9133
Today Daily Change -0.0052
Today Daily Change % -0.57
Today daily open 0.9185
 
Trends
Daily SMA20 0.9261
Daily SMA50 0.9252
Daily SMA100 0.9305
Daily SMA200 0.9524
 
Levels
Previous Daily High 0.9224
Previous Daily Low 0.9165
Previous Weekly High 0.9317
Previous Weekly Low 0.912
Previous Monthly High 0.9429
Previous Monthly Low 0.9059
Daily Fibonacci 38.2% 0.9187
Daily Fibonacci 61.8% 0.9201
Daily Pivot Point S1 0.9159
Daily Pivot Point S2 0.9133
Daily Pivot Point S3 0.91
Daily Pivot Point R1 0.9217
Daily Pivot Point R2 0.925
Daily Pivot Point R3 0.9276

 

 

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

EUR/USD climbs to 10-day highs above 1.0700

EUR/USD climbs to 10-day highs above 1.0700

EUR/USD gained traction and rose to its highest level in over a week above 1.0700 in the American session on Tuesday. The renewed US Dollar weakness following the disappointing PMI data helps the pair stretch higher.

EUR/USD News

GBP/USD extends recovery beyond 1.2400 on broad USD weakness

GBP/USD extends recovery beyond 1.2400 on broad USD weakness

GBP/USD gathered bullish momentum and extended its daily rebound toward 1.2450 in the second half of the day. The US Dollar came under heavy selling pressure after weaker-than-forecast PMI data and fueled the pair's rally. 

GBP/USD News

Gold rebounds to $2,320 as US yields turn south

Gold rebounds to $2,320 as US yields turn south

Gold reversed its direction and rose to the $2,320 area, erasing a large portion of its daily losses in the process. The benchmark 10-year US Treasury bond yield stays in the red below 4.6% following the weak US PMI data and supports XAU/USD.

Gold News

Here’s why Ondo price hit new ATH amid bearish market outlook Premium

Here’s why Ondo price hit new ATH amid bearish market outlook

Ondo price shows no signs of slowing down after setting up an all-time high (ATH) at $1.05 on March 31. This development is likely to be followed by a correction and ATH but not necessarily in that order.

Read more

Germany’s economic come back

Germany’s economic come back

Germany is the sick man of Europe no more. Thanks to its service sector, it now appears that it will exit recession, and the economic future could be bright. The PMI data for April surprised on the upside for Germany, led by the service sector.

Read more

Forex MAJORS

Cryptocurrencies

Signatures