USD/CHF Price Analysis: Struggles at 0.8800 amid mixed technical signals

USD/CHF climbs by 0.20%, trading at 0.8780, but remains under the shadow of the 0.8800 resistance.
The pair displays a ‘double-top’ chart pattern, suggesting potential downside movement.
Key resistances to watch: 50-day EMA at 0.8811 and 100-day EMA at 0.8921.
Immediate supports lie at the 20-day EMA at 0.8746 and the August 10 low of 0.8689.

Christian Borjon Valencia FXStreet

The USD/CHF climbed modestly on Monday’s session though it failed to cling above the 0.8800 figure, which could weigh on the pair in the near term. Additionally, the USD/CHF failing to break a downslope resistance trendline drawn from November 2022 highs opened the door for further losses. The USD/CHF is trading at 0.8780, gains 0.20% but remains subject to selling pressure.

USD/CHF Price Analysis: Technical outlook

From a technical standpoint, the USD/CHF registered a ‘double-top’ chart pattern, which could pave the way for further downside, but mixed signals from an oscillator perspective could refrain sellers from lowering prices.

The Relative Strength Index (RSI) indicates that buyers are gathering momentum, while the three-day Rate of Change (RoC) depicts the USD/CHF as neutral.

If USD/CHF buyers reclaim 0.8800, they must reclaim the 50-day Exponential Moving Average (EMA) at 0.8811. A breach of the latter would expose the 100-day EMA at 0.8921.

Conversely, if USD/CHF sellers remain in control, the next support would be the 20-day EMA at 0.8746. Break below will expose the August 10 low of 0.8689, followed by the year-to-date (YTD) low of 0.8551.

USD/CHF Price Action – Daily chart

USD/CHF

Overview
Today last price	0.878
Today Daily Change	0.0015
Today Daily Change %	0.17
Today daily open	0.8765

Trends
Daily SMA20	0.8697
Daily SMA50	0.8842
Daily SMA100	0.8921
Daily SMA200	0.9124

Levels
Previous Daily High	0.8781
Previous Daily Low	0.8735
Previous Weekly High	0.8783
Previous Weekly Low	0.869
Previous Monthly High	0.9005
Previous Monthly Low	0.8552
Daily Fibonacci 38.2%	0.8753
Daily Fibonacci 61.8%	0.8763
Daily Pivot Point S1	0.874
Daily Pivot Point S2	0.8715
Daily Pivot Point S3	0.8695
Daily Pivot Point R1	0.8786
Daily Pivot Point R2	0.8806
Daily Pivot Point R3	0.8831

Author

Christian Borjon Valencia

FXStreet

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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