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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.

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 Daily chart

USD/CHF Technical levels

USD/CHF

Overview
Today last price0.9164
Today Daily Change-0.0010
Today Daily Change %-0.11
Today daily open0.9174
 
Trends
Daily SMA200.9312
Daily SMA500.9257
Daily SMA1000.9343
Daily SMA2000.9536
 
Levels
Previous Daily High0.9246
Previous Daily Low0.9147
Previous Weekly High0.9342
Previous Weekly Low0.9072
Previous Monthly High0.9429
Previous Monthly Low0.9059
Daily Fibonacci 38.2%0.9185
Daily Fibonacci 61.8%0.9208
Daily Pivot Point S10.9132
Daily Pivot Point S20.909
Daily Pivot Point S30.9034
Daily Pivot Point R10.9231
Daily Pivot Point R20.9288
Daily Pivot Point R30.9329

Author

Christian Borjon Valencia

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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