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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.

Christian Borjon Valencia FXStreet

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

USD/CHF

Overview
Today last price	0.9223
Today Daily Change	-0.0068
Today Daily Change %	-0.73
Today daily open	0.9291

Trends
Daily SMA20	0.9321
Daily SMA50	0.926
Daily SMA100	0.9359
Daily SMA200	0.9543

Levels
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

Author

Christian Borjon Valencia

FXStreet

Christian Borjon began his career as a retail trader in 2010, mainly focused on technical analysis and strategies around it. He started as a swing trader, as he used to work in another industry unrelated to the financial markets.

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