- USD/CHF rises but clashes with the 20-day EMA and retreats some of its gains.
- The USD/CHF failure to crack 0.9300 exacerbated a pullback towards 0.9220s.
The USD/CHF climbs slightly after hitting a daily low of 0.9192 and reclaims the 0.9200 figure in the mid-North American session. Nevertheless, the USD/CHF surrendered some of its earlier gains once it failed to stay above the 20-day Exponential Moving Average (EMA). At the time of writing, the USD/CHF is trading at 0.9228.
USD/CHF Price Analisis: Technical outlook
The daily chart shows that the USD/CHF remains neutral to downward biased. It was further cemented by the USD/CHF pair, which after reaching a daily high of 0.9297, it was unable to stay above the 20-day EMA at 0.9248. The USD/CHF retreated further but persisted in positive territory.
If the USD/CHF registers a daily close around Tuesday’s open, that will form a doji, which could exacerbate a resumption of the downtrend, posing a threat to the YTD low of 0.9091. Nevertheless, on its way south, the USD/CHF would find some hurdles, like the 0.9150 February 21 daily low, followed by the 0.9100 mark, and then the YTD low.
As an alternate scenario, the USD/CHF first resistance would be the 20-day EMA at 0.9248, followed by 0.9300. A breach of the latter will expose the 50-day EMA at 0.9356, followed by 0.9400.
USD/CHF Key Technical Levels
|Today last price||0.9226|
|Today Daily Change||0.0003|
|Today Daily Change %||0.03|
|Today daily open||0.9223|
|Previous Daily High||0.9241|
|Previous Daily Low||0.916|
|Previous Weekly High||0.9288|
|Previous Weekly Low||0.9085|
|Previous Monthly High||0.9471|
|Previous Monthly Low||0.9201|
|Daily Fibonacci 38.2%||0.921|
|Daily Fibonacci 61.8%||0.9191|
|Daily Pivot Point S1||0.9175|
|Daily Pivot Point S2||0.9127|
|Daily Pivot Point S3||0.9094|
|Daily Pivot Point R1||0.9256|
|Daily Pivot Point R2||0.9289|
|Daily Pivot Point R3||0.9337|
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