- USD/CHF is stuck in a 140 point zone, trendless and trading around the 20 day EMA.
- USD/CHF Price Analysis: The pair is neutral to the downside, and could test the yearly low during the session.
USD/CHF remains subdued in the North American session on Wednesday, with markets awaiting the decision of the Federal Reserve (Fed) regarding its monetary policy. At the time of writing these lines, the USD/CHF is trading around 0.9155, almost lateralized.
USD/CHF Price Analysis: Technical Perspective
The pair remains consolidated in the 0.9140-0.9280 zone for the tenth day in a row, although USD/CHF fell and hit a fresh weekly low of 0.9136 before regaining some ground, resting around the 0.9150 zone. . However, USD/CHF bears remain in command as the daily EMA sits above the spot price, while oscillators such as the Relative Strength Index (RSI) and Rate of Exchange (RoC) suggest that the neutral-bearish trend remains intact.
USD/CHF support zones would be the daily low at 0.9136, followed by the 0.9100 figure. Once broken, it would compound USD/CHF’s slide to a daily low of 0.9085, followed by the psychological figure of 0.9000.
On the other hand, if USD/CHF recovers to 0.9200, then the 20-day EMA would be in play at 0.9220. Once that is done, USD/CHF could target the Jan 31 daily high at 0.9288, on its way to the psychological barrier of 0.9300.
Key technical levels for USD/CHF
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.
