USD/CHF Price Analysis: Trades around 0.9225

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  • USD/CHF rises but crashes against the 20 day EMA and retraces some of its gains.
  • USD/CHF’s inability to break above 0.9300 exacerbated a pullback towards 0.9220.

The USD/CHF rises slightly after touching a daily minimum at 0.9192 and recovers the figure of 0.9200 in the middle of the North American session. However, USD/CHF gave back some of its earlier gains as it failed to hold above the 20-day EMA. At the time of writing, USD/CHF is trading at 0.9228.

USD/CHF Price Analysis: Technical Perspective

On the daily chart, the USD/CHF pair shows a neutral downward trend. The USD/CHF pair reached daily highs at 0.9297, but failed to break above the 20-day EMA at 0.9248. USD/CHF pulled back further but remained in positive territory.

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If USD/CHF records a daily close around Tuesday’s open, a doji will form, which could exacerbate a resumption of the downtrend, posing a threat to the 0.9091 low. However, on its way south, the USD/CHF would encounter some obstacles, such as the daily low of 0.9150 on February 21, followed by 0.9100, and then the yearly low.

As an alternative scenario, the first resistance for USD/CHF would be the 20-day EMA at 0.9248, followed by 0.9300. A break of this latest resistance would expose the 50 day EMA at 0.9356, followed by 0.9400.

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USD/CHF Key Technical Levels

USD/CHF

Overview
Last price today 0.9226
Today I change daily 0.0003
today’s daily variation 0.03
today’s daily opening 0.9223
Trends
daily SMA20 0.9257
daily SMA50 0.9341
daily SMA100 0.959
daily SMA200 0.9638
levels
previous daily high 0.9241
previous daily low 0.916
Previous Weekly High 0.9288
previous weekly low 0.9085
Previous Monthly High 0.9471
Previous monthly minimum 0.9201
Fibonacci daily 38.2 0.921
Fibonacci 61.8% daily 0.9191
Daily Pivot Point S1 0.9175
Daily Pivot Point S2 0.9127
Daily Pivot Point S3 0.9094
Daily Pivot Point R1 0.9256
Daily Pivot Point R2 0.9289
Daily Pivot Point R3 0.9337

Source: Fx Street

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