USD/CHF Price Analysis: Trims some of Friday’s losses, hovers around 0.9130s

Geopolitical tensions spurred by the Ukraine – Russia crisis favors the US dollar.
USD/CHF Technical outlook: Neutral-bearish biased, but a break above 0.9200 would expose the 0.9300 supply zone.

Christian Borjon Valencia FXStreet

After finishing the last week in the red, the USD/CHF trims some of Friday’s losses amid a risk-off market mood. At press time, the USD/CHF is trading at 0.9135, up some 0.18%.

Factors like the escalating tensions in the Ukraine – Russian conflict and the prospects of the Federal Reserve, tightening monetary policy conditions, boost the greenback to the detriment of the so-called safe-haven status of the Swiss franc.

In the meantime, the US Dollar Index, a gauge of the greenback’s performance against a basket of its rivals, edges up 0.21%, sitting at 95,854. Contrarily, the US 10-year benchmark note rate slides four and a half basis points, down to 1.731%, helped to put a lid on the upside prospects of the USD/CHF.

USD/CHF Price Forecast: Technical outlook

The daily chart shows that the USD/CHF is neutral-bearish biased. The daily moving averages (DMAs) above the spot price express the bearishness of the pair. However, the DMAs horizontal slope leaves the USD/CHF exposed to upward pressure.

To the upside, the USD/CHF first resistance would be the 200-day moving average (DMA) at 0.9160. A breach of the latter would expose the 50-DMA at 0.9206, followed by the 100-DMA at 0.9211.

On the flip side, the USD/CHF first demand zone would be the 0.9100 figure. A break under that level exposed the 2022 YTD low at 0.9095, followed by November 2, 2021, a daily low at 0.9089.

USD/CHF

Overview
Today last price	0.9138
Today Daily Change	0.0016
Today Daily Change %	0.18
Today daily open	0.9122

Trends
Daily SMA20	0.9168
Daily SMA50	0.9213
Daily SMA100	0.9216
Daily SMA200	0.9164

Levels
Previous Daily High	0.9181
Previous Daily Low	0.9108
Previous Weekly High	0.9181
Previous Weekly Low	0.9108
Previous Monthly High	0.9295
Previous Monthly Low	0.9102
Daily Fibonacci 38.2%	0.9136
Daily Fibonacci 61.8%	0.9153
Daily Pivot Point S1	0.9093
Daily Pivot Point S2	0.9064
Daily Pivot Point S3	0.902
Daily Pivot Point R1	0.9166
Daily Pivot Point R2	0.921
Daily Pivot Point R3	0.9239

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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