USD/CHF Price Analysis: Teeters on the edge at around the 200-DMA

USD/CHF bounces near 0.9001, with the 200-DMA at 0.9022 emerging as a pivotal battleground.
A sustained move below the 200-DMA could unlock the path towards the psychological 0.9000.
Recovery above 0.9022 necessitates reclaiming 0.9100 to rekindle upside aspirations towards 0.9147.

Christian Borjon Valencia FXStreet

The USD/CHF slides towards 0.9001 weekly lows but bounces off, trying to trim some of its earlier losses. Buyers are trying to reclaim the 200-day moving average (DMA) at 0.9022, which so far has been accomplished it, as the pair exchanges hands at 0.9030, down 0.14%.

the ongoing pullback, after reaching a seven-month high of 0.9245, brought the USD/CHF towards the 200-DMA, which so far is capping the pair’s fall. Nevertheless, a daily close below that area would expose the 0.9000 figure, followed by a drop toward the 50-DMA at 0.8926. On the other hand, if buyers keep the spot price above 0.9022, the 200-DMA could pave the way for a recovery, but they must reclaim 0.9100. Once cleared, the next resistance would be the May 31 daily high at 0.9147, followed by 0.9200.

USD/CHF Price Action – Daily chart

USD/CHF Techniacl Levels

USD/CHF

Overview
Today last price	0.9031
Today Daily Change	-0.0014
Today Daily Change %	-0.15
Today daily open	0.9045

Trends
Daily SMA20	0.908
Daily SMA50	0.8922
Daily SMA100	0.8907
Daily SMA200	0.9026

Levels
Previous Daily High	0.9083
Previous Daily Low	0.9034
Previous Weekly High	0.9244
Previous Weekly Low	0.9073
Previous Monthly High	0.9225
Previous Monthly Low	0.8795
Daily Fibonacci 38.2%	0.9053
Daily Fibonacci 61.8%	0.9064
Daily Pivot Point S1	0.9025
Daily Pivot Point S2	0.9005
Daily Pivot Point S3	0.8976
Daily Pivot Point R1	0.9074
Daily Pivot Point R2	0.9103
Daily Pivot Point R3	0.9123

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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