- USD/CHF seesaws around two-month low inside a bullish chart pattern.
- Oversold RSI conditions suggest another move up to break 200-hour EMA.
Having marked a downtick below October 21 bottom to test the September-start low, USD/CHF wavers near 0.9038, down 0.07% intraday, while heading into Friday’s European open.
In doing so, the Swiss pair keeps the two-day-long falling wedge chart formation on the hourly (1H) chart amid the oversold RSI conditions.
As a result, USD/CHF buyers look to confirm the bullish chart play with a sustained break above 0.9055 immediate resistance, which in turn can probe a 200-hour EMA level of 0.9115.
It should, however, be noted that a sustained rise past-0.9115 will not hesitate to challenge the monthly peak surrounding 0.9210.
On the contrary, the formation’s support line around 0.9020 and the 0.9000 threshold can keep pleasing the USD/CHF bears if managed to ignore the RSI conditions.
USD/CHF hourly chart
Trend: Pullback expected
Additional important levels
|Today last price||0.9037|
|Today Daily Change||-8 pips|
|Today Daily Change %||-0.09%|
|Today daily open||0.9045|
|Previous Daily High||0.9134|
|Previous Daily Low||0.9042|
|Previous Weekly High||0.9173|
|Previous Weekly Low||0.9041|
|Previous Monthly High||0.9219|
|Previous Monthly Low||0.9031|
|Daily Fibonacci 38.2%||0.9077|
|Daily Fibonacci 61.8%||0.9098|
|Daily Pivot Point S1||0.9013|
|Daily Pivot Point S2||0.8981|
|Daily Pivot Point S3||0.8921|
|Daily Pivot Point R1||0.9106|
|Daily Pivot Point R2||0.9166|
|Daily Pivot Point R3||0.9198|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.