USD/CHF Price Analysis: Bears can ignore SNB official-led bounce towards 0.9300

USD/CHF pauses the heaviest declines in 14 weeks around weekly low.
SNB’s vice-Chair Zurbruegg welcomes recent weakening of the Swiss franc.
Downside break of two-week-old rising trend line, 100-HMA favor bears.

Anil Panchal FXStreet

USD/CHF consolidates the heaviest fall in three months around 0.9280 during the initial Asian session on Wednesday. In addition to the bears’ cautious mood ahead of the key US stimulus, recent comments from the Swiss National Bank (SNB) Vice-Chair Fritz Zurbruegg also triggered the quote’s corrective pullback.

In his latest interview with the Swiss media (Blick newspaper), SNB’s Vice-Chair Zurbruegg welcomed recent weakness in the CHF while saying, “negative interest rates, currency market interventions remain necessary.”

Although the recent bounce eyes 100-HMA level of 0.9293, the 0.9300 threshold and the previous support line from February 26, at 0.9322 now, seem to guard short-term upside of the USD/CHF prices.

If at all, the USD/CHF bulls manage to regain above the support-turned-resistance line, the monthly high near 0.9375 may return to the chart.

Meanwhile, early Thursday’s high and Friday’s low, around 0.9255, offers immediate support during the pair’s further downside.

Also acting as the key support is the 200-HMA level of 0.9206 and the 0.9200 round-figure.

USD/CHF hourly chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price	0.9284
Today Daily Change	-80 pips
Today Daily Change %	-0.85%
Today daily open	0.9364

Trends
Daily SMA20	0.9054
Daily SMA50	0.8955
Daily SMA100	0.8987
Daily SMA200	0.9123

Levels
Previous Daily High	0.9364
Previous Daily Low	0.9289
Previous Weekly High	0.9319
Previous Weekly Low	0.9071
Previous Monthly High	0.9102
Previous Monthly Low	0.8871
Daily Fibonacci 38.2%	0.9335
Daily Fibonacci 61.8%	0.9317
Daily Pivot Point S1	0.9314
Daily Pivot Point S2	0.9264
Daily Pivot Point S3	0.9239
Daily Pivot Point R1	0.9389
Daily Pivot Point R2	0.9414
Daily Pivot Point R3	0.9464

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Breaking: US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.