USD/CHF Price Analysis: Drops back towards 0.9200 on Thursday’s Doji

USD/CHF remains depressed near the intraday low, justifies the previous day’s bearish candlestick formation.
50-day SMA, ascending trend line from early January lure sellers.
0.9320-25 area to guard recovery moves if bulls reject Doji.

Anil Panchal FXStreet

USD/CHF stays offered around 0.9215, down 0.09% intraday, ahead of Friday’s European session.

The quote portrayed a bearish Doji candlestick on the daily chart the previous day while negating the pair’s bounce off 50-day SMA.

Given the downbeat RSI conditions join bearish candlestick formation, USD/CHF is likely to revisit the key SMA support near the 0.9200 threshold.

However, any further downside will direct sellers towards a 4.5-month-old support line near 0.9110.

On the flip side, corrective pullback needs to reprint the weekly high near 0.9270 to defy the bearish signals.

Following that, the 0.9300 round figure and an area including multiple tops marked since early March around 0.9320-25 will be the key to watch.

USD/CHF daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price	0.9219
Today Daily Change	-0.0005
Today Daily Change %	-0.05%
Today daily open	0.9224

Trends
Daily SMA20	0.9323
Daily SMA50	0.9193
Daily SMA100	0.9043
Daily SMA200	0.9097

Levels
Previous Daily High	0.9246
Previous Daily Low	0.9206
Previous Weekly High	0.9439
Previous Weekly Low	0.9232
Previous Monthly High	0.9459
Previous Monthly Low	0.9071
Daily Fibonacci 38.2%	0.9222
Daily Fibonacci 61.8%	0.9231
Daily Pivot Point S1	0.9205
Daily Pivot Point S2	0.9186
Daily Pivot Point S3	0.9166
Daily Pivot Point R1	0.9245
Daily Pivot Point R2	0.9265
Daily Pivot Point R3	0.9284

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.

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