USD/CHF Price Analysis: Struggles at the confluence of 0.8800 and 50-DMA, retraces to 0.8780s

USD/CHF grapples with the 50-DMA at 0.8808, marking a decline of 0.38% for the day.
A sustained upward trend could see buyers target the June 16 resistance at 0.8901, with sights set on the 0.9000 milestone.
A daily close below 0.8800 could send the pair diving toward 2014 low of 0.8699 and potentially the YTD low of 0.8552.

Christian Borjon Valencia FXStreet

USD/CHF clashes with the 50-day Moving Average (DMA) at 0.8808 and retraces, and prints a daily low of 0.8785 amid a choppy trading session as investors brace for the Jackson Hole Symposium, where the US Federal Reserve (Fed) Chair Jerome Powell remarks, are awaited. The USD/CHF is trading at 0.8788, down 0.38%.

USD/CHF Price Analysis: Technical outlook

The pair remains trending steadily to the upside, but the 50-DMA and its confluence with the 0.8800 figure, exacerbated a dip toward the 0.8780s region. If USD/CHF price action continues to register successive series of higher highs and lows, USD/CHF buyers could reclaim the 50-DMA in the near term and target the June 16 daily low turned resistance at 0.8901. A decisive break would expose the 0.9000 figure.

Conversely, if USD/CHF extends its losses and achieves a daily close below 0.8800, the USD/CHF would dive towards the 2014 swing low of 0.8699, followed by the year-to-date (YTD) low of 0.8552.

USD/CHF Price Action – Daily chart

USD/CHF

Overview
Today last price	0.8789
Today Daily Change	-0.0034
Today Daily Change %	-0.39
Today daily open	0.8823

Trends
Daily SMA20	0.8741
Daily SMA50	0.8816
Daily SMA100	0.8903
Daily SMA200	0.91

Levels
Previous Daily High	0.8828
Previous Daily Low	0.8774
Previous Weekly High	0.8828
Previous Weekly Low	0.8738
Previous Monthly High	0.9005
Previous Monthly Low	0.8552
Daily Fibonacci 38.2%	0.8807
Daily Fibonacci 61.8%	0.8794
Daily Pivot Point S1	0.8789
Daily Pivot Point S2	0.8754
Daily Pivot Point S3	0.8735
Daily Pivot Point R1	0.8842
Daily Pivot Point R2	0.8862
Daily Pivot Point R3	0.8896

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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