USD/CHF Price Analysis: Trims some losses, with buyers eyeing 0.9300

USD/CHF bounced off the weekly lows around 0.9110s as the US Dollar pares its losses.
USD/CHF Price Analysis: To shift neutral, above 0.9200; otherwise, the YTD lows would be tested.

Christian Borjon Valencia FXStreet

The USD/CHF finished Thursday’s session with a loss of 0.11% after hitting a low of 0.9118 and closing at around 0.9163. As the Asian session begins, the USD/CHF is trading at around 0.9160s, as sellers continued to drive prices for the fourth straight day.

USD/CHF Price action

The USD/CHF daily chart portrays the pair as downward biased, but Thursday’s price action formed a hammer candlestick preceded by a downtrend; it’s usually a bullish candle. But buyers need to crack March’s 23 daily high at 0.9180 if they want to drive the USD/CHF higher.

For a bullish resumption, the USD/CHF first resistance would be 0.9200. Break above, and the 20-day Exponential Moving Average (EMA) at 0.9249 would be up for grabs. The 50-day EMA would be tested at 0.9278 before the USD/CHF reaches 0.9300.

On the flip side, and the path of least resistance, the USD/CHF first support would be March’s 23 low at 0.9118. A breach of the latter and the USD/CHF will fall to the March 13 daily low at 0.9070 before challenging the YTD low at 0.9059.

USD/CHF Daily chart

USD/CHF Technical levels

USD/CHF

Overview
Today last price	0.9164
Today Daily Change	-0.0010
Today Daily Change %	-0.11
Today daily open	0.9174

Trends
Daily SMA20	0.9312
Daily SMA50	0.9257
Daily SMA100	0.9343
Daily SMA200	0.9536

Levels
Previous Daily High	0.9246
Previous Daily Low	0.9147
Previous Weekly High	0.9342
Previous Weekly Low	0.9072
Previous Monthly High	0.9429
Previous Monthly Low	0.9059
Daily Fibonacci 38.2%	0.9185
Daily Fibonacci 61.8%	0.9208
Daily Pivot Point S1	0.9132
Daily Pivot Point S2	0.909
Daily Pivot Point S3	0.9034
Daily Pivot Point R1	0.9231
Daily Pivot Point R2	0.9288
Daily Pivot Point R3	0.9329

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.

AUD/USD sticks to neutral bias above 0.7100 amid cautious markets

AUD/USD holds steady above 0.7100 in the Asian session on Monday as the US Dollar stalls its modest pullback from the highest level since late July amid persistent geopolitical uncertainties. The PBOC status quo on Loan Prime Rates also weighs on the Aussie. However, bets on another RBA rate hike continue to underpin the Australian Dollar ahead of the Trump-Xi Summit.

USD/JPY eases below 157.00 amid looming intervention risks

USD/JPY is easing back below 157.00 in Asia on Monday, undermined by modest Japanese Yen strength amid looming intervention risks after Friday's BoJ rate check. A Japanese holiday also keeps traders on edge amid escalating geopolitical tensions between Russia and Ukraine and in the Middle East. As a result, the US Dollar pauses its pullback, limiting the pair's downside.

Gold meets resistance around $4,400

Gold kicks in the new trading with on the back foot, keeping its trade near $4,350 per troy ounce. The precious metal’s correction comes on the back of the firmer US Dollar and espite declining US Treasury yields across the curve.

Bitcoin hits $85,000 for the first time in eight months

Bitcoin price reclaims $85,000 on Monday, advancing last week’s 5% recovery toward an eight-month high. The recovery in King Crypto aligns with renewed institutional demand, with Exchange Traded Funds (ETFs) recording $433 million in inflows on Friday.

The week ahead: Fuel prices in focus as we lead up to key eco releases

Financial markets are in a strange position as we move to the final weeks of Q3, uncertainty and volatility continue to grip markets, but the oil price is falling; and European and US stocks are poised to open higher later on Monday. Market stresses are concentrated in sovereign bonds, and European and US yields had another scare late on Friday, and moved higher.

BoJ Recap: Not as hawkish as expected

The Bank of Japan (BoJ) raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks.