USD/CHF Price Analysis: Surrender the 0.9220 as USD bears eye 0.9200

The USD/CHF is recording losses during the week, so far down 0.30%.
The break of the 0.9220-60 range exacerbated a move under 0.9200, reclaimed late on risk-off market mood due to headlines of Ukraine/Russia.
USD/CHF is neutral downward biased, as long as it stays under the 100 and the 50-DMAs.

Christian Borjon Valencia FXStreet

The USD/CHF extends its losses during the week, and on Friday, it is barely down some 0.02%. At the time of writing, the USD/CHF is trading at 0.9216, reclaiming 0.9200 after printing a daily low at 0.9191.

On Wednesday, the USD/CHF finally broke the 0.9220-60 range, to the downside, on appetite for safe-haven peers but the US dollar. Furthermore, on its way towards highs 0.9190s, it reclaimed the 100 and the 50-daily moving averages (DMAs), exacerbating a move towards lower prices.

USD/CHF Price Forecast: Technical outlook

Therefore, the USD/CHF is neutral-downward biased. The USD/CHF first support would be the 200-DMA at 0.9173, near the February 4 daily low of 0.9176. Breach of the latter would expose the January 21 daily low at 0.9107.

On the flip side, the USD/CHF first resistance would be February 9 daily low at 0.9221, previous support now resistance, followed by 0.9260, and then the February 10 daily high at 0.9296.

USD/CHF

Overview
Today last price	0.9216
Today Daily Change	0.0014
Today Daily Change %	0.15
Today daily open	0.9202

Trends
Daily SMA20	0.9231
Daily SMA50	0.9204
Daily SMA100	0.9214
Daily SMA200	0.9176

Levels
Previous Daily High	0.9229
Previous Daily Low	0.9188
Previous Weekly High	0.9297
Previous Weekly Low	0.9222
Previous Monthly High	0.9343
Previous Monthly Low	0.9092
Daily Fibonacci 38.2%	0.9204
Daily Fibonacci 61.8%	0.9214
Daily Pivot Point S1	0.9184
Daily Pivot Point S2	0.9166
Daily Pivot Point S3	0.9143
Daily Pivot Point R1	0.9225
Daily Pivot Point R2	0.9247
Daily Pivot Point R3	0.9265

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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