USD/CHF Price Analysis: Testing trendline support at 0.9265

USD/CHF retreats from 0.9300 to test trendline support at 0.9265.
Below 0.9265, the pair might head towards 0.9215 and 0.9150.
On the upside, the pair faces an important resistance at 0.9300/10.

Guillermo Alcala FXStreet

The US dollar has been rejected again at 0.9300 resistance area, before losing momentum and drop 0.4% on the day so far, to test trendline support from early August lows, now around 0.9265.

The dollar is losing ground against its main peers on Wednesday, weighed by the flattening US yield curve, with the 10-year note dropping to 1.57%, from five-month highs at 1.61 on Tuesday.

USD/CHF daily chart

The daily chart, shows the pair below the 20-day SMA, testing the mentioned trendline at 0.9365. A confirmation below here will cancel the near-term uptrend and might empower bears to push the pair towards 0.9215 (September 22, 23 lows, and 50-day SMA) before testing 0.9150 (September 10 low)

On the upside, immediate resistance remains at 0.9300/10 (October 6, 8, and 12 highs). Above here, the pair might attempt another attack to multi-month high 0.9380 (Sept. 30 high, 78,6% Fib. Retracement of the March-June decline) and 0.9435 (Apr. 5 high).

Technical levels to watch

USD/CHF

Overview
Today last price	0.9256
Today Daily Change	-0.0055
Today Daily Change %	-0.59
Today daily open	0.9311

Trends
Daily SMA20	0.9276
Daily SMA50	0.9209
Daily SMA100	0.9161
Daily SMA200	0.9128

Levels
Previous Daily High	0.9313
Previous Daily Low	0.9257
Previous Weekly High	0.9318
Previous Weekly Low	0.9231
Previous Monthly High	0.9368
Previous Monthly Low	0.9116
Daily Fibonacci 38.2%	0.9292
Daily Fibonacci 61.8%	0.9279
Daily Pivot Point S1	0.9274
Daily Pivot Point S2	0.9237
Daily Pivot Point S3	0.9218
Daily Pivot Point R1	0.933
Daily Pivot Point R2	0.935
Daily Pivot Point R3	0.9387

Author

Guillermo Alcala

FXStreet

Graduated in Communication Sciences at the Universidad del Pais Vasco and Universiteit van Amsterdam, Guillermo has been working as financial news editor and copywriter in diverse Forex-related firms, like FXStreet and Kantox.

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