USD/CHF Price Analysis: Depressed near fresh low since January 2015, weekly falling channel in focus

USD/CHF wavers around the lowest since January 2015.
Nearly overbought RSI conditions suggest pullback inside bearish chart pattern.
May 2014 low can lure the bears during further downside.

Anil Panchal FXStreet

Following its drop to the fresh multi-month low of 0.8851, USD/CHF seesaws near 0.8855, down 0.15% intraday, ahead of Friday’s European session.

In doing so, the quote stays depressed inside a descending trend channel formation established since November 03. However, oversold RSI conditions battle the receding strength of bearish MACD to indicate corrective recovery.

During the bounce 0.8875 and the channel resistance around 0.8895 will precede the 0.8900 threshold to challenge the USD/CHF bulls.

If at all the USD/CHF bulls manage to dominate past-0.8900, the 200-HMA level of 0.8930 will be important to watch.

On the downside, the mentioned channel’s support near 0.8843 can challenge the south-run, failing to do so can direct USD/CHF bears towards May 2014 bottom surrounding 0.8700.

USD/CHF hourly chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	0.8856
Today Daily Change	-13 pips
Today Daily Change %	-0.15%
Today daily open	0.8869

Trends
Daily SMA20	0.9028
Daily SMA50	0.9085
Daily SMA100	0.9108
Daily SMA200	0.9348

Levels
Previous Daily High	0.8902
Previous Daily Low	0.8852
Previous Weekly High	0.9093
Previous Weekly Low	0.8886
Previous Monthly High	0.9208
Previous Monthly Low	0.8982
Daily Fibonacci 38.2%	0.8871
Daily Fibonacci 61.8%	0.8883
Daily Pivot Point S1	0.8847
Daily Pivot Point S2	0.8825
Daily Pivot Point S3	0.8798
Daily Pivot Point R1	0.8897
Daily Pivot Point R2	0.8924
Daily Pivot Point R3	0.8946

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.