- 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 Technical levels
|Today last price||0.9223|
|Today Daily Change||-0.0068|
|Today Daily Change %||-0.73|
|Today daily open||0.9291|
|Previous Daily High||0.9312|
|Previous Daily Low||0.924|
|Previous Weekly High||0.9342|
|Previous Weekly Low||0.9072|
|Previous Monthly High||0.9429|
|Previous Monthly Low||0.9059|
|Daily Fibonacci 38.2%||0.9285|
|Daily Fibonacci 61.8%||0.9268|
|Daily Pivot Point S1||0.925|
|Daily Pivot Point S2||0.9209|
|Daily Pivot Point S3||0.9178|
|Daily Pivot Point R1||0.9322|
|Daily Pivot Point R2||0.9353|
|Daily Pivot Point R3||0.9393|
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