- The USD/CHF is trapped within a 140 pip area, trendless and fluctuating around the 20-day EMA.
- USD/CHF Price Analysis: The pair is neutral downwards, and it could test the YTD low during the session.
The USD/CHF remains subdued in Wednesday’s North American session, with markets awaiting the Federal Reserve’s (Fed) decision regarding its monetary policy. At the time of typing, the USD/CHF exchanges hands at around 0.9150s, almost flat.
USD/CHF Price Analysis: Technical outlook
The pair remains consolidated in the 0.9140 to 0.9280 area for the tenth consecutive day, though the USD/CHF fell and hit a new weekly lof of 0.9136 before recovering some ground, resting at around the 0.9150 area. Nevertheless, the USD/CHF bears remain in charge, as the daily EMAs sits above the spot price, while oscillators like the Relative Strength Index (RSI) and the Rate of Change (RoC) suggest the neutral-downward bias remains intact.
The USD/CHF support areas would be the day’s low at 0.9136, followed by the 0.9100 figure. Once broken it will exacerbate a USD/CHF fall to the YTD low of 0.9085, followed by the 0.9000 psychological figure.
On the other hand, if the USD/CHF reclaims 0.9200, then the 20-day EMA would be up for grabs at 0.9220. Once done, the USD/CHF could aim towards the January 31 daily high at 0.9288, on its way to the 0.9300 psychological barrier.
USD/CHF Key Technical Levels
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