USD/CHF Price Analysis: Bears eye 0.9200 on breaking three-week-old support

USD/CHF takes offers to refresh intraday low after breaking an ascending trend line from January 24.
Steady RSI keeps bearish bias intact, key DMAs to offer a bumpy road to the south.
An 11-day-old resistance line adds to the upside filters.

Anil Panchal FXStreet

USD/CHF refreshes intraday low around 0.9235, down 0.25% on a day after breaking a short-term crucial support line during Tuesday’s Asian session.

Given the absence of oversold RSI conditions and the pair’s sustained trading below a two-week-old resistance line, USD/CHF prices are likely to decline further.

As a result, the 100-DMA and the monthly low, respectively around 0.9215 and 0.9180, pop up on the bear’s radars.

However, the 200-DMA level of 0.9175 and multiple lows marked since late 2021 around 0.9090 will challenge the USD/CHF pair’s further downside.

On the flip side, recovery moves beyond the previous support line, around 0.9245 at the latest, isn’t an open invitation to the USD/CHF buyers as a short-term resistance line at 0.9280 will test the pair’s additional upside.

In a case where USD/CHF bulls keep reins past 0.9280, the 0.9300 threshold and the latest peak surrounding 0.9345, marked in January, will be crucial to watch.

USD/CHF: Daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price	0.9236
Today Daily Change	-0.0022
Today Daily Change %	-0.24%
Today daily open	0.9258

Trends
Daily SMA20	0.9223
Daily SMA50	0.9205
Daily SMA100	0.9217
Daily SMA200	0.9174

Levels
Previous Daily High	0.9272
Previous Daily Low	0.9238
Previous Weekly High	0.9297
Previous Weekly Low	0.9222
Previous Monthly High	0.9343
Previous Monthly Low	0.9092
Daily Fibonacci 38.2%	0.9259
Daily Fibonacci 61.8%	0.9251
Daily Pivot Point S1	0.924
Daily Pivot Point S2	0.9221
Daily Pivot Point S3	0.9205
Daily Pivot Point R1	0.9274
Daily Pivot Point R2	0.9291
Daily Pivot Point R3	0.9309

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 flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.