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USD/CHF Price Analysis: Sinks below 0.9300 as bears eye 0.9200

  • USD/CHF turns neutral bearish after dropping below the 50/20 day EMAs.
  • USD/CHF Price Analysis: Downward is biased in the near term and might fall beneath 0.9200.

USD/CHF erased Monday’s gains and fell below crucial technical indicators on Tuesday. A risk-on impulse and a soft UD Dollar (USD) were the main reasons for the USD/CHF pair fall. At the time of writing, the USD/CHF is exchanging hands at 0.9222.

USD/CHF Price action

From the daily chart perspective, the USD/CHF remains neutral-to-downward biased. After falling below the 50 and 20-day Exponential Moving Averages (EMAs) at 0.9290 and 0.9273, the USD/CHF accelerated its downfall toward the current exchange rates. Consequently, oscillators turned bearish, meaning the USD/CHF could dive toward the March 15 low at 0.9122.

The USD/CHF 4-hour chart portrays the pair as downward biased after breaking below the 0.9239-0.9317 range. Furthermore, the Relative Strength Index (RSI) is bearish, while the Rate of Change (RoC) shows sellers are in charge.

Therefore, the USD/CHF first support would be the 0.9200 figure. A breach of the latter will expose the S1 daily pivot at 0.9182, followed by the S2 pivot at 0.9142 and the 0.9100 mark. In an alternate scenario, the USD/CHF first resistance would be the daily pivot at 0.9250, followed by the R1 pivot point at 0.9288, before testing 0.9300.

USD/CHF 4-hour chart

USD/CHF 4-hour chart

USD/CHF Technical levels

USD/CHF

Overview
Today last price0.9223
Today Daily Change-0.0068
Today Daily Change %-0.73
Today daily open0.9291
 
Trends
Daily SMA200.9321
Daily SMA500.926
Daily SMA1000.9359
Daily SMA2000.9543
 
Levels
Previous Daily High0.9312
Previous Daily Low0.924
Previous Weekly High0.9342
Previous Weekly Low0.9072
Previous Monthly High0.9429
Previous Monthly Low0.9059
Daily Fibonacci 38.2%0.9285
Daily Fibonacci 61.8%0.9268
Daily Pivot Point S10.925
Daily Pivot Point S20.9209
Daily Pivot Point S30.9178
Daily Pivot Point R10.9322
Daily Pivot Point R20.9353
Daily Pivot Point R30.9393

Author

Christian Borjon Valencia

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

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