USD/CHF Price Analysis: Struggles at 0.9400 and drops beyond the 100-DMA

USD/CHF plunges below the 100-day EMA, with sellers eyeing the 50-day EMA at 0.9310s.
Oscillators remain in negative territory, warranting further downside in the USD/CHF pair.
USD/CHF Price Analysis: Sellers reclaiming the 20-day EMA would pave the way to 0.9300.

Christian Borjon Valencia FXStreet

The USD/CHF reverses its upward course and trims some of its weekly gains after the pair was shy of testing the 200-day Exponential Moving Average (EMA) at 0.9448. Consequently, sellers stepped in and tumbled the USD/CHF pair below 0.9400. At the time of typing, the USD/CHF is trading at 0.9357, down 0.59%.

USD/CHF Price action

During Thursday’s session, the USD/CHF retreated below 0.9400, with sellers reclaiming the 100-day EMA at 0.9384. Even though the USD/CHF is falling, it’s facing solid support around 0.93500, which, once cleared, could pave the USD/CHF’s way toward the 20-day EMA at 0.9333. A breach of the latter and the USD/CHF could fall to the 50-day EMA at 0.9316.

Oscillators like the Relative Strength Index (RSI) favor sellers, while the Rate of Change (RoC), portrays buyers losing momentum. Therefore, the USD/CHF could test the 0.9300 figure in the near term.

As an alternate scenario, the USD/CHF first resistance would be the 0.9400 figure. Once broken, the USD/CHF could test the YTD low at 0.9440 before reaching the 200-day EMA at 0.9448.

USD/CHF Daily chart

USD/CHF Technical levels

USD/CHF

Overview
Today last price	0.9359
Today Daily Change	-0.0053
Today Daily Change %	-0.56
Today daily open	0.9412

Trends
Daily SMA20	0.9314
Daily SMA50	0.9265
Daily SMA100	0.9417
Daily SMA200	0.9564

Levels
Previous Daily High	0.9439
Previous Daily Low	0.9389
Previous Weekly High	0.944
Previous Weekly Low	0.9342
Previous Monthly High	0.9429
Previous Monthly Low	0.9059
Daily Fibonacci 38.2%	0.9408
Daily Fibonacci 61.8%	0.942
Daily Pivot Point S1	0.9388
Daily Pivot Point S2	0.9363
Daily Pivot Point S3	0.9338
Daily Pivot Point R1	0.9438
Daily Pivot Point R2	0.9463
Daily Pivot Point R3	0.9488

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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