USD/CHF Price Analysis: Sellers attack 0.8850 with eyes on seven-week-old horizontal support

  • USD/CHF sellers catch a breather after refreshing two week low.
  • Downside break of 21-day SMA, descending RSI line favor sellers.
  • 50-day SMA, monthly top offer a tough nut to crack for buyers.

Having recently dropped to the lowest since January 08, USD/CHF seesaws around 0.8850 during early Friday’s trading. The Swiss currency pair refreshed a multi-day low after breaking 21-day SMA. The downside move also takes support from receding RSI.

As a result, USD/CHF sellers seem to target a retest of the horizontal support comprising multiple levels since December 17, around 0.8820.

Although the pair’s weakness past-0.8820 becomes less likely, any further declines will not hesitate to break the 0.8800 while challenging the monthly low of 0.8857.

Alternatively, an upside clearance of 21-day SMA, at 0.8860 now, will aim for the 0.8900 round-figure ahead of challenging December’s top surrounding 0.8920.

However, a confluence of 50-day SMA and the monthly peak close to 0.8925-30 will be a strong resistance for the USD/CHF buyers to watch afterward.

USD/CHF daily chart

Trend: Further weakness expected

Additional important levels

Today last price 0.8849
Today Daily Change -1 pip
Today Daily Change % -0.01%
Today daily open 0.885
Daily SMA20 0.8861
Daily SMA50 0.893
Daily SMA100 0.9034
Daily SMA200 0.9233
Previous Daily High 0.8902
Previous Daily Low 0.8848
Previous Weekly High 0.892
Previous Weekly Low 0.8849
Previous Monthly High 0.9093
Previous Monthly Low 0.8794
Daily Fibonacci 38.2% 0.8868
Daily Fibonacci 61.8% 0.8881
Daily Pivot Point S1 0.8831
Daily Pivot Point S2 0.8813
Daily Pivot Point S3 0.8777
Daily Pivot Point R1 0.8885
Daily Pivot Point R2 0.892
Daily Pivot Point R3 0.8938



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.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

AUD/USD: Run-up to 0.8000 slows down near 36-month top amid mixed clues

AUD/USD struggles to keep recovery moves above 0.7879 above 0.7900. Powel matched expectations of reprinting cautious optimism, tried to placate reflation fears. Australia’s Q4 Wage Price Index, risk catalysts in the spotlight.


Gold: Bears engaging below firm resistance, targetting $1,750

The daily chart shows that the price has been resisted at the structure and a 50% mean reversion of the last bearish impulse which has proven to be a firm resistance. 

Gold news

RBNZ Preview: To hold fire, upgrade its economic forecasts

New Zealand’s relative success in combating the coronavirus pandemic has propelled a swift economic recovery. Therefore, the Reserve Bank of New Zealand (RBNZ) could remain in a wait-and-see mode on Wednesday before it announces any adjustments to its monetary policy decision later this year.

Read more

Crypto market menaced as it bleeds amid $6 billion liquidations

Cryptocurrencies are gasping for air after corrections occurred across the board. The bloodshed has seen Bitcoin lose over 14% in 24 hours, testing support at $45,000. Ethereum did not escape the freefall, which has led to losses below $1,500.

Read more

US Dollar Index: Formidable support is located at 90.00

DXY tests and rebound from the key 90.00 neighbourhood. Further south of this level comes in the 2021 lows at 89.20.

US Dollar Index News