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Faces strong resistance around 200-DMA

  • USD / CHF fell 0.06% in the American session.
  • USD / CHF has a neutral bias as the DMAs remain horizontal, around the 0.9170-0.9220 area.

The USD/CHF It extends its losses from Tuesday, trading at 0.9157 at the time of writing. Risk-sensitive currencies remain offered, while safe-haven currencies fall. In the case of CHF, it gains against the dollar, following in the footsteps of the Japanese yen, which gains 0.14% against the dollar.

USD / CHF was moderate in the overnight session, trading within the 0.9140-68 zone, without extending its decline on Tuesday. At the bottom, the downward movement was limited near the daily S1 pivot at 0.9135, while to the upside, the daily pivot point at 0.9164 was the top for the USD / CHF pair.

Meanwhile, US Treasury yields recover from previous losses, the 10-year yield rose one basis point to 1,677%.

USD / CHF Price Forecast: Technical Outlook

USD / CHF has a neutral bias, represented by daily moving averages (DMA) with a horizontal slope that resides around the spot price. However, an ascending trend line drawn from the lows of the December 2020 cycle to the lows of June 2021 provided support, as the downward movement broke through the aforementioned and recovered strongly towards the 200 DMA around of 0.9169.

On the upside, the first resistance would be the 200 DMA. A break above that level would open the door for a confluence of the 100 and 50 DMA around the 0.9205-15 area, which once broken would open the door to the December 15 cycle high at 0.9294 and then 0.9300.

On the other hand, a decisive break below 0.9150 would open the door to 0.9100, followed by the November 2 low at 0.9085 and then the 0.9000 psychological level.

Technical levels

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