- USD/CHF retraced some of last week’s gains after struggling against the 50 day EMA.
- USD/CHF Price Analysis: Still neutral to the downside, but could rally once 0.9300 recovers.
He USD/CHF is off amid a holiday-sponsored thin liquid session in the United States (US), with traders enjoying a long weekend in observance of President’s Day. At the time of writing, USD/CHF is trading at 0.9230, down 0.12% from its opening price.
From a daily chart perspective, USD/CHF remains neutral to the downside. On Friday, USD/CHF hit a fresh multi-week high, but reversed course and ended down 0.12%. Bearish Continuation extended today, though it was capped by the 20-day EMA at 0.9223.
For a bearish resumption, USD/CHF must break above the 20-day EMA, followed by the psychological signal at 0.9200. Breaking the latter mark would expose the February 9 swing low at 0.9160, followed by the February 14 daily low at 0.9135, before the psychological level of 0.9100.
Conversely, the first resistance for USD/CHF would be the 50-day EMA at 0.9279, followed by the 0.9300 figure. A decisive break and buyers could send USD/CHF towards the 100-day EMA at 0.9388, previously 0.9400.
USD/CHF Daily Chart
USD/CHF Key Technical Levels
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
