• 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

Overview
Today last price 0.9037
Today Daily Change -8 pips
Today Daily Change % -0.09%
Today daily open 0.9045
 
Trends
Daily SMA20 0.9109
Daily SMA50 0.9133
Daily SMA100 0.9203
Daily SMA200 0.9433
 
Levels
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

 

 

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