untitled design

USD/CHF Price Analysis: Drops to fresh 4-week lows as sellers eye the 200 DMA

  • The USD/CHF is preparing to end the week with significant losses of 1.01%.
  • From a daily chart perspective, USD/CHF has turned into a neutral-bearish bias.
  • The USD/CHF hourly chart reinforces the daily bias as sellers target a break below 0.9495 on their way to the 200 DMA.

The USD/CHF falls for the fourth consecutive day out of five this week, approaching the June 29 cycle low at 0.9495, which, if broken decisively, would pave the way for a USD/CHF drop towards the 200-day EMA at 0.9409 . At the time of writing, USD/CHF is trading around 0.9517.

USD/CHF Price Analysis: Technical Outlook

The USD/CHF daily chart shows that the pair has moved into a neutral to bearish bias. Oscillator readings, particularly the Relative Strength Index (RSI), are in bearish territory and nowhere near reaching oversold conditions, opening the door for further USD/CHF bearish action. Therefore, as mentioned above, once the major breaks above 0.9495, that will open the door for further losses.

USD/CHF 1 hour chart

In the short term, the USD/CHF 1 hour chart shows that the pair has been trading between the daily high and low at 0.9593 and 0.9501, respectively. However, once the dust has settled, the exchange rate is at current levels, just above the daily S1 pivot. USD/CHF traders should note that in the last few hours, the RSI slipped below its 7-period SMA, which suggests that bearish pressure is on the horizon.

Therefore, the USD/CHF bias is bearish, and its first support would be 0.9495. Once broken, the next support would be the confluence of the April 2020 low and the S2 pivot point around 0.9472-80, followed by the S3 daily pivot point at 0.9417.

Technical levels


Last Price Today 0.9524
Today’s Daily Change -0.0027
Today’s Daily Change % -0.28
Today’s Daily Opening 0.9551
20 Daily SMA 0.9702
50 Daily SMA 0.9688
100 Daily SMA 0.9614
200 Daily SMA 0.9412
Previous Daily High 0.9632
Previous Daily Minimum 0.9545
Previous Maximum Weekly 0.979
Previous Weekly Minimum 0.96
Monthly Prior Maximum 1,005
Previous Monthly Minimum 0.9495
Daily Fibonacci 38.2% 0.9578
Daily Fibonacci 61.8% 0.9599
Daily Pivot Point S1 0.9519
Daily Pivot Point S2 0.9488
Daily Pivot Point S3 0.9432
Daily Pivot Point R1 0.9607
Daily Pivot Point R2 0.9664
Daily Pivot Point R3 0.9695

Source: Fx Street

You may also like

Get the latest

Stay Informed: Get the Latest Updates and Insights


Most popular