USD/CHF Price Analysis: Retests December lows around 0.9215

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  • USD/CHF misses a doji and falls below 0.9300.
  • USD/CHF price action suggests the pair could form a triple bottom, but oscillators point lower.
  • A drop below 0.9200 could exacerbate a test of the 2022 lows.

The USD/CHF it ignored a doji formed on Wednesday and extended its losses below 0.9300. At the time of writing these lines, USD/CHF is trading at 0.9231, down 0.58%.

USD/CHF Price Analysis: Technical Perspective

The daily chart shows that USD/CHF hit a daily low of 0.9210 for the third time in December, although it has held on to the 0.9200 level so far. However, the Relative Strength Index (RSI) and the Rate of Change (RoC) suggest that sellers are gathering momentum. Therefore, a drop below the 0.9200 figure could pave the way towards the 2022 yearly low at 0.9091.

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Otherwise, USD/CHF could be forming a triple bottom pattern, but would first need to break above the 20-day EMA at 0.9335 and the December high at 0.9347 to confirm the chart pattern. Once reached, the USD/CHF target would be the 50-day EMA at 0.9477, followed by 0.9500.

Key technical levels for USD/CHF


Last price today 0.9232
Today Change Daily -0.0060
today’s daily variation -0.65
today’s daily opening 0.9292
daily SMA20 0.9332
daily SMA50 0.9568
daily SMA100 0.9658
daily SMA200 0.9644
previous daily high 0.9307
previous daily low 0.9245
Previous Weekly High 0.9348
previous weekly low 0.9227
Previous Monthly High 1.0148
Previous monthly minimum 0.9357
Fibonacci daily 38.2 0.9269
Fibonacci 61.8% daily 0.9284
Daily Pivot Point S1 0.9256
Daily Pivot Point S2 0.922
Daily Pivot Point S3 0.9194
Daily Pivot Point R1 0.9318
Daily Pivot Point R2 0.9344
Daily Pivot Point R3 0.938

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Source: Fx Street

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