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USD/CHF Price Analysis: The pair could find immediate support at 0.8850

  • USD/CHF remains below the psychological barrier of 0.8900.
  • Technical indicators suggest weaker momentum for the pair.
  • A break above the nine-day EMA could help the pair reach the 38.2% Fibonacci retracement.

USD/CHF appears to retrace recent gains, trading around 0.8880 during the European session on Friday. The pair could find immediate support around the important 0.8850 level, aligned with the monthly low at 0.8854.

A decisive break below the level could push the USD/CHF pair towards the psychological level at 0.8800 with conjunction at the September low at 0.8795.

The ongoing bearish trend is supported by the technical indicators of the USD/CHF pair. The 14-day Relative Strength Index (RSI) below the 50 level signals downward pressure, signaling weaker momentum for the pair.

Furthermore, the Moving Average Convergence Divergence (MACD) line below the center line, with divergence below the signal line, suggests bearish momentum in the USD/CHF pair.

On the bullish side, the psychological level of 0.8900 emerges as the immediate resistance followed by the nine-day Exponential Moving Average (EMA) at 0.8939 aligned with the 23.6% Fibonacci retracement at 0.8947.

A firm break above this latest level could support USD/CHF bulls to approach the region around the 38.2% Fibonacci retracement at 0.9004.

USD/CHF: Daily Chart

USD/CHF: Technical levels


Today’s Latest Price 0.8873
Today’s Daily Change -0.0018
Today’s Daily Change % -0.20
Today’s Daily Opening 0.8891
20 Daily SMA 0.8986
SMA of 50 Daily 0.9022
SMA of 100 Daily 0.89
SMA of 200 Daily 0.8994
Previous Daily High 0.89
Previous Daily Low 0.8855
Previous Weekly High 0.9046
Previous Weekly Low 0.8954
Previous Monthly High 0.9244
Previous Monthly Low 0.8888
Daily Fibonacci 38.2% 0.8883
Daily Fibonacci 61.8% 0.8872
Daily Pivot Point S1 0.8864
Daily Pivot Point S2 0.8836
Daily Pivot Point S3 0.8818
Daily Pivot Point R1 0.8909
Daily Pivot Point R2 0.8928
Daily Pivot Point R3 0.8955

Source: Fx Street

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