- USD/CHF pulls back from weekly highs and is down 0.43% after US data points to continued disinflation and a cooling job market.
- The main upside barriers for the pair include the 0.8782 level, the 0.8800 psychological level, and the 50-day EMA at 0.8815.
- If a possible recession were to occur, the pair could head for the important 0.8700 level, with the possibility of extending losses to a year-ago low of 0.8554 if that support were to be broken.
He USD/CHF It pulls back from weekly highs, but remains trading sideways within a tight 40-point range after US economic data indicates disinflation continues, while the labor market shows signs of easing. Therefore, USD/CHF falls 0.43% and trades at 0.8733.
USD/CHF Price Analysis: Technical Perspective
Despite the USD/CHF posting losses, it remains biased neutral, slightly to the upside, as the pair continues to trade off year-long lows of 0.8554. At time of writing, after marking a daily low of 0.8689, the pair reversed trend with buyers retrieving the 20-day EMA at 0.8737 after testing last week’s low of 0.8699.
If USD/CHF resumes its uptrend above 0.8782 and conquers 0.8800, this could exacerbate a test of the 50 day EMA at 0.8815. Breaking above this latest signal would expose the pair to 0.8900, followed by the 100 day EMA at 0.8926.
Conversely, a daily close below 0.8700 and USD/CHF could test the year-to-date low of 0.8554.
USD/CHF Price Action – Daily Chart
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.
