USD/CHF technical analysis: Greenback hits fresh October lows against the Swiss Franc

USD/CHF remains under heavy pressure after the London close.
The level to beat for bears is the 0.9871 level.

Flavio Tosti Independent Analyst

USD/CHF daily chart

On the daily chart, USD/CHF is trading in a sideways trend, now challenging the 50 and 100-day simple moving averages (DSMAs) below the 0.9900 handle.

USD/CHF four-hour chart

USD/CHF is under bearish pressure below the main SMAs as the market is trading at its lowest point since late September. A continuation of the bear move below the 0.9871 support can lead to an acceleration towards 0.9850 and 0.9830 price levels, according to the Technical Confluences Indicator.

USD/CHF 30-minute chart

USD/CHF is trading below its main SMAs, suggesting a bearish bias in the near term. Resistances can be seen at the 0.9881 level and 0.9922, according to the Technical Confluences Indicator.

Additional key levels

USD/CHF

Overview
Today last price	0.9873
Today Daily Change	-0.0077
Today Daily Change %	-0.77
Today daily open	0.995

Trends
Daily SMA20	0.9943
Daily SMA50	0.988
Daily SMA100	0.9879
Daily SMA200	0.9956

Levels
Previous Daily High	0.9992
Previous Daily Low	0.9945
Previous Weekly High	0.9991
Previous Weekly Low	0.9904
Previous Monthly High	0.9988
Previous Monthly Low	0.9797
Daily Fibonacci 38.2%	0.9963
Daily Fibonacci 61.8%	0.9974
Daily Pivot Point S1	0.9933
Daily Pivot Point S2	0.9915
Daily Pivot Point S3	0.9886
Daily Pivot Point R1	0.998
Daily Pivot Point R2	1.0009
Daily Pivot Point R3	1.0027

Author

Flavio Tosti

Independent Analyst

AUD/USD turns south toward 0.6900 as USD firms up

AUD/USD sees fresh selling and drops toward 0.6900 in late Asian trading on Monday, as renewed US Dollar strength weighs on the pair amid lingering Middle East and Russia-Ukraine geopolitical tensions. Focus remains on Oil prices, Treasury bond yields, and RBA expectations for fresh trading impetus in the major.

USD/JPY retakes 158.00 amid hawkish BoJ bets, firmer USD

USD/JPY erases losses and retakes 158.00 in the Asian session on Monday, trading within a one-week-old range. Geopolitical uncertainty continues to underpin the US Dollar, despite fading Fed rate hike hopes, supporting the pair's rebound. However, further upside could be capped by hawkish BoJ expectations and looming intervention risks that could support the Japanese Yen.

Gold languishes below $4,200 amid high US yields

Gold trims some losses on Monday, but remains trapped within previous ranges, with upside attempts limited below $4,200 and with two-month lows of $4,110 at a short distance. The recent pullback on the US Dollar Index has provided some support for precious metals although the high US Treasury yields are keeping a floor on US Dollar dips so far.

Pi Network risks a steeper decline as bearish momentum builds

Pi Network extends losses below $0.090 maintaining a steady decline for the fifth consecutive day. The retail demand remains firm, with the notional value of active perpeutals holding above $10 million. The technical outlook for PI remains bearish as bearish momentum mounts.

ISM Services PMI expected to show robust US economy in September

The US ISM Services PMI is expected to improve marginally in September. The US services sector is expected to remain well into expansionary territory. Bets of further Fed tightening appear to have lost traction in the last few days.

Eurozone inflation just hit 3.8%, its highest in three years. This chart shows why the ECB can’t simply hike its way out

The ECB would normally have a relatively straightforward answer to inflation running almost twice its target: raise interest rates. But these are not normal circumstances. This time, the bond market is already doing part of the tightening for it, leaving the ECB facing an increasingly difficult dilemma.