- USD/CHF rebounds around 0.9170s as buyers stepped in, lifting the pair nearby 0.9200.
- For the USD/CHF to extend its losses, it needs a daily close below 0.9200.
- Otherwise, a bullish harami candlestick pattern could exacerbate a USD/CHF rally toward 0.9300.
USD/CHF is trimming Monday’s losses and bounces from daily lows, as sellers failed to gain traction beneath the 0.9200 figure, achieving a daily low of 0.9194 before giving way to buyers. Therefore, the USD/CHF is forming a bullish harami candlestick pattern, pending confirmation. Therefore, the USD/CHF is trading at 0.9234, gaining 0.25%.
USD/CHF Price Analysis: Technical outlook
After failing to extend its losses below 0.9167, the USD/CHF stages a comeback. Formation of a bullish harami could open the door for further upside, though it needs to be confirmed once the USD/CHF reclaims 0.9292. If that scenario is achieved, then the USD/CHF next resistance would be the 20-day Exponential Moving Average (EMA), which tracks bullish/bearishness price action in the pair, at 0.9299. followed by the last week’s high of 0.9409.
However, the Relative Strength Index (RSI) remains at bearish territory, though aiming up, keeping buyer hopeful of higher prices.
As an alternate scenario, the USD/CHF key support levels would be the 0.9200 figure, followed by the January 9 daily low of 0.9167, ahead of the 0.9100 mark.
USD/CHF Key Technical Levels
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
Editors’ Picks
The Federal Reserve lowered its rates by 50 bps - LIVE
The Federal Reserve reduced its Fed Fund Target Range (FFTR) by 50 bps to 4.75%-5.00% amidst a divided consensus at its gathering on Wednesday.
EUR/USD climbs to daily highs near 1.1180 following the Fed’s decision
EUR/USD now picks up extra pace and revisits the 1.1180 region after the Federal Reserve decided to cut its interest rates by 50 bps at its event on Wednesday.
GBP/USD hits fresh tops near 1.3300 on weaker Dollar
The Greenback is now accelerating its decline following the Fed’s decision to reduce its interest rates, sending GBP/USD to fresh tops in the 1.3290 zone.
Gold flirts with all-time high around $2,590 post-Fed
The sentiment around Gold improves further in the wake of the Fed’ decision to start its easing cycle on Wednesday, sending prices of the yellow metal to the area of record highs near rthe $2,600 mark per ounce troy.
Federal Reserve set for first interest-rate reduction in four years amid growing bets of jumbo cut
The Federal Reserve is widely expected to lower the policy rate after the September meeting. The revised Summary of Economic Projections and Fed Chairman Powell’s remarks could provide important clues about the rate outlook.
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.