USD/CHF Price Analysis: Bounces at 18-month lows, reclaims the 0.9100 figure

After hitting 18-month-lows, the USD/CHF is back above the 0.9100 threshold.
USD/CHF Price Analysis: Remains downward biased below 0.9180, but once reclaimed, buyers would target 0.9280.

Christian Borjon Valencia FXStreet

The USD/CHF climbs sharply after diving to fresh 18-month lows at 0.9059. However, it’s staging a comeback as the greenback gets bolstered following Wednesday’s US Federal Reserve’s decision to lift rates, which initially was perceived as dovish in the FX space. Nevertheless, the US Dollar (USD) had erased most of Wednesday’s losses, a tailwind for the USD/CHF. Therefore, the USD/CHF exchanges hand at 0.9221, above its opening price by 0.50%.

USD/CHF Price Analysis: Technical outlook

After the Fed’s decision, the USD/CHF fall continued on Wednesday, reaching new YTD lows, which were broken on Thursday. As the North American session progressed, USD/CHF bulls stepped in at 0.9050s and lifted the spot back above 0.91000.

Although the USD/CHF pair holds to gains in the day, it remains downward biased and is expected to extend its losses as long as it stays below 0.9180. A breach of 0.9059, the YTD low, would set the stage to challenge the 0.9000 psychological barrier.

On the other side, if the USD/CHF reclaims the February 1 high of 0.9182, that would exacerbate a test of the 0.9200 figure. Once cleared, the 20-day Exponential Moving Average (EMA) is next, followed by the January 31 high at 0.9288, ahead of 0.9300.

USD/CHF Key Technical Levels

USD/CHF

Overview
Today last price	0.9109
Today Daily Change	0.0022
Today Daily Change %	0.24
Today daily open	0.9087

Trends
Daily SMA20	0.9224
Daily SMA50	0.9298
Daily SMA100	0.9557
Daily SMA200	0.9625

Levels
Previous Daily High	0.9184
Previous Daily Low	0.907
Previous Weekly High	0.928
Previous Weekly Low	0.9158
Previous Monthly High	0.941
Previous Monthly Low	0.9085
Daily Fibonacci 38.2%	0.9113
Daily Fibonacci 61.8%	0.914
Daily Pivot Point S1	0.9043
Daily Pivot Point S2	0.9
Daily Pivot Point S3	0.8929
Daily Pivot Point R1	0.9157
Daily Pivot Point R2	0.9228
Daily Pivot Point R3	0.9271

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

EUR/USD recovers above 1.1600 as focus shifts to US data

EUR/USD stages a modest rebound and trades in positive territory above 1.1600 in the European session on Wednesday. Improving risk sentiment makes it difficult for the US Dollar to preserve its strength and helps the pair edge higher as focus shifts to key US data releases.

GBP/USD climbs above 1.3350 on improving risk mood

GBP/USD gains traction and advances toward 1.3400 on Wednesday. Although there are no headlines pointing to a de-escalation in the Middle East conflict, the modest recovery seen in US stock index futures limit the USD's gains and help the pair hold its ground.

Gold rebounds toward $5,200 as USD retreats

Gold maintains its offered tone through European session on Wednesday and climbs to the $5,200 region. The downward correction seen in the US Dollar and the ongoing crsis in the Middle East seem to be allowing XAU/USD to preserve its recovery momentum.

ADP Employment Report set to signal stronger February jobs growth, little effect on Fed outlook

The Automatic Data Processing (ADP) Research Institute will release its monthly report on private-sector job creation for February on Wednesday. The so-called ADP Employment Change report is expected to show that the United States private sector added 50K new positions in the month, following the 22K gained in January.

Asian stocks fall as South Korea’s KOSPI slumps over 10%

Asian equities drop on Middle East tensions; the MSCI Asia Pacific Index falls up to 4%. South Korea’s KOSPI fell 10.71% near 5,170, with the Korean Won weakened past 1,500 per dollar.

Solana Price Forecast: SOL consolidation near resistance as ETF inflows offer mild support

Solana price is facing slight rejection as it approaches the upper boundary of the consolidation range at around $88 on Wednesday. Institutional demand is strengthening as spot Exchange Traded Funds recorded two consecutive inflows so far this week.