Categories: Markets

USD/CHF Price Analysis: Weakened around 0.9370 after a volatile session

USD/CHF Price Analysis: Weakened around 0.9370 after a volatile session
  • The dollar remains weaker, despite the fact that the US Nonfarm Payrolls report is upbeat.
  • USD/CHF hit a daily high following the US NFP data, but tumbled afterwards.
  • USD/CHF: Break below 0.9370 to pave the way towards 0.9300.

The USD/CHF pared some of its earlier gains/losses in a volatile trading session, spurred by a US Nonfarm Payrolls report for November, which raised the likelihood that the US Federal Reserve (Fed) will continue to hike the costs of the loans. However, the slowdown in manufacturing activity revived fears of recession in the US economy. Therefore, USD/CHF is fluctuating around 0.9370 at the time of writing.

USD/CHF Price Analysis: Technical Perspective

In Friday’s session, USD/CHF rallied to its daily high of 0.9439 after the NFP figures were released. However, buyers of the Swiss Franc (CHF) used it to open new short positions in USD/CHF, as evidenced by the fact that the main erased its previous gains, returning below the psychological 0.9400.

Oscillators like the Relative Strength Index (RSI) in bearish territory are almost flat, suggesting consolidation ahead, while the 9-Day Rate of Change (RoC) portrays sellers in command.

Therefore, the path of least resistance is biased to the downside. As of this writing, USD/CHF tests the August 11 daily low at 0.9370, which, once broken, could pave the way to test the fresh 7-month low of 0.9326, followed by 0.9300.

Key USD/CHF Technical Levels


Last price today 0.9378
today’s daily change 0.0008
Today’s daily change in % 0.09
today’s daily opening 0.937
daily SMA20 0.9563
daily SMA50 0.9791
daily SMA100 0.9711
daily SMA200 0.9641
previous daily high 0.9471
previous daily low 0.9366
Previous Weekly High 0.9598
previous weekly low 0.9388
Previous Monthly High 1.0148
Previous monthly minimum 0.9357
Daily Fibonacci of 38.2%. 0.9406
Daily Fibonacci of 61.8% 0.9431
Daily Pivot Point S1 0.9334
Daily Pivot Point S2 0.9297
Daily Pivot Point S3 0.9228
Daily Pivot Point R1 0.9439
Daily Pivot Point R2 0.9507
Daily Pivot Point R3 0.9544

Source: Fx Street