USD/CHF Price Analysis: Sellers strike two-month old support below 200-day SMA

USD/CHF posts losses for the second straight day on the last trading day of the week.
The pair touches two-month supports near 0.9110 in a 70-pips movement.
Bulls face immense selling pressure near 0.9220-09200 zone.

Rekha Chauhan Independent Analyst

USD/CHF licks wounds after the previous session’s heavy sell-off in the early Asian trading hours. After testing the high near 0.9194, the pair fell in more than a 70-pips movement in the US session. At the time of writing, USD/CHF is trading at 0.9117, down 0.01% for the day.

USD/CHF additional levels

On the daily chart, the pair has been struggling near 0.9225, a critical resistance level since October 14. Furthermore, USD/CHF is under continuous downward pressure after testing the 5-month high at 0.9368 on September 30.

If the price breaks below the intraday low then it could test the psychological 0.9100 level. A daily close below the mentioned level could drag the spot toward the August 6 low at 0.9065, followed by the 0.9040 horizontal support zone.

Alternatively, the Moving Average Convergence Divergence (MACD) trades onto the oversold zone. Any uptick in the MACD could push the spot toward the 200-day Simple Moving Average (SMA) at 0.9147. A daily close above the 200-day SMA would make the possibility of the crucial 0.9200 mark for the bulls.

Next, USD/CHF again encounters the critical resistance zone at 0.9225.

USD/CHF additional levels

USD/CHF

Overview
Today last price	0.9117
Today Daily Change	-0.0064
Today Daily Change %	-0.70
Today daily open	0.9181

Trends
Daily SMA20	0.9243
Daily SMA50	0.9219
Daily SMA100	0.9186
Daily SMA200	0.9147

Levels
Previous Daily High	0.9205
Previous Daily Low	0.9164
Previous Weekly High	0.9273
Previous Weekly Low	0.9151
Previous Monthly High	0.9368
Previous Monthly Low	0.9116
Daily Fibonacci 38.2%	0.918
Daily Fibonacci 61.8%	0.919
Daily Pivot Point S1	0.9162
Daily Pivot Point S2	0.9143
Daily Pivot Point S3	0.9121
Daily Pivot Point R1	0.9203
Daily Pivot Point R2	0.9224
Daily Pivot Point R3	0.9243

Author

Rekha Chauhan

Independent Analyst

Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.

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