USD/CHF Price Analysis: Teases one-week-old support breakdown amid quiet markets

USD/CHF holds lower ground while extending Thursday’s pullback from highest since July 2020.
MACD swings in favor of bulls, 200-HMA adds to the downside filters.

Anil Panchal FXStreet

USD/CHF retreats to 0.9413, down 0.07% intraday, during early Good Friday’s sluggish markets. In doing so, the pair sellers attack an ascending support line from March 25.

However, the receding bearish bias of the MACD and 200-HMA seems ready to challenge the USD/CHF bears.

Hence, a downside break of 0.9410 support, which becomes imminent, needs validation from the 200-HMA level of 0.9387 before recalling the 0.9300 threshold on the chart.

On the flip side, multiple hurdles between 0.9425 and 0.9435 can test the short-term USD/CHF buyers ahead of directing them to the nine-month peak surrounding 0.9530.

Overall, USD/CHF remains firm but intermediate pullback can’t be ruled out.

USD/CHF hourly chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	0.9415
Today Daily Change	-0.0005
Today Daily Change %	-0.05%
Today daily open	0.942

Trends
Daily SMA20	0.9324
Daily SMA50	0.9123
Daily SMA100	0.9026
Daily SMA200	0.9106

Levels
Previous Daily High	0.9473
Previous Daily Low	0.9405
Previous Weekly High	0.9418
Previous Weekly Low	0.9223
Previous Monthly High	0.9459
Previous Monthly Low	0.9071
Daily Fibonacci 38.2%	0.9431
Daily Fibonacci 61.8%	0.9447
Daily Pivot Point S1	0.9392
Daily Pivot Point S2	0.9364
Daily Pivot Point S3	0.9324
Daily Pivot Point R1	0.946
Daily Pivot Point R2	0.9501
Daily Pivot Point R3	0.9529

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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