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USD/CHF Price Analysis: Upswing stalls but found support nearby 0.9100

  • USD/CHF declines, breaking below key support amid shifting market conditions.
  • Despite downturn, upward trend holds; resistance at 0.9100, 0.9147 if recovery occurs.
  • Continued falls could test supports at 0.9023 and key 0.9000 level.

The USD/CHF retreats from year-to-date (YTD) highs reached on Wednesday and drops below the 0.9100 figure as risk appetite improves. The major trades were down by 0.9099 by 0.32%.

USD/CHF Price Analysis: Technical outlook

From a technical perspective, the daily chart depicts the pair as upward biased. After bottoming around the 0.8300 figure, successive series of higher highs and higher lows, alongside the breach of key resistance levels like the 50, 100, and 200-day moving averages (DMAs), opened the door for further upside.

However, after peaking at around 0.9147, the USD/CHF dipped below the April 3 high turned support at 0.9095, but unless the pair closes below the latter, the rally remains alive. The first resistance would be the 0.9100 mark, followed by the year-to-date (YTD) high of 0.9147. Once cleared, the next stop would be the 0.9200 mark, closely followed by the October 3 high of 0.9245.

In the scenario of sellers pushing spot prices below 0.9095, that could pave the way for testing the April 10 swing low of 0.9023, followed by 0.9000.

USD/CHF Price Action – Daily Chart

USD/CHF

Overview
Today last price0.9097
Today Daily Change-0.0032
Today Daily Change %-0.35
Today daily open0.9129
 
Trends
Daily SMA200.8988
Daily SMA500.8865
Daily SMA1000.8749
Daily SMA2000.8822
 
Levels
Previous Daily High0.9148
Previous Daily Low0.9025
Previous Weekly High0.9096
Previous Weekly Low0.8998
Previous Monthly High0.9072
Previous Monthly Low0.873
Daily Fibonacci 38.2%0.9101
Daily Fibonacci 61.8%0.9072
Daily Pivot Point S10.9053
Daily Pivot Point S20.8977
Daily Pivot Point S30.893
Daily Pivot Point R10.9176
Daily Pivot Point R20.9223
Daily Pivot Point R30.9299

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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